Analyst Says Ethereum-Based Altcoin on Cusp of 80% Rally, Sets Targets for Avalanche and Polkadot

A popular crypto analyst updates his outlook on three altcoins as the digital asset market witnesses a corrective move.

Starting with The Graph (GRT), pseudonymous analyst Cred To tell His 47,800 YouTube subscribers say blockchain data indexing protocols could surge about 80% from current levels if the broader crypto market recovers.

“This is something that looks structurally sound. Again, it’s the whim of the rest of the market in resistance and it’s all kinds of tricky and difficult.

But in terms of purely short-term trading levels and a clear weekly structure, $0.14 to $0.15 for this thing is a very self-explanatory range high and the market continues to risk or spit out If it’s not, it’s not breaking out, or it’s doing something, this is one of those areas where the high problem areas in the next time frame are pretty far apart. In this case, it approaches $0.30.

If the broader market conditions allow it and you have retests that basically hold and forbid deviations like classic breakouts and retests, then there’s a lot more room for the next trouble area We know 80% fairly conservatively in the weekly time frame before.

This graph is worth $0.165 at the time of writing.

Next is Avalanche (AVAX). According to Cred, Ethereum (ETH) competitors are showing textbook support and resistance levels on their daily charts.

Cred said Avalanche could rise more than 30% from current levels if it breaks out of the resistance level around $21.50.

Regarding the type of target or space you will be maneuvering during this future resistance break, [at around $21.50] and the following resistance [at around $27], there is quite a bit of room to be honest.this is [$21.50] It’s a very big level, so you can expect some pretty big moves.

And the next problem area, if we’re even slightly conservative, is probably heading towards the highs of this previous range. [$27]low range…

Even between $21 and $27 isn’t perfect, but if it’s close to 30% between the timeframe pivot and the next trouble area, it’s worth paying attention to. “

Avalanche is trading at $19.55 at the time of writing.

Turning to interoperability blockchain Polkadot (DOT), the pseudonymous analyst said the 14th-largest crypto asset by market capitalization would likely hit the current level if the weekly chart retested the nearest resistance level. It said it could rise by about 28% from levels.

“As far as retest levels go, any week that doesn’t fall below $6.80 is technically a bullish retest candle in this context.

And on the other end of the range, if this is the type of setup with a low payback range, the high end of the range will be closer to $9.

Polkadot is worth $7.02 at the time of writing.

I

Don’t Miss a Beat Subscribe to get encrypted email alerts delivered straight to your inbox

Price action confirmation

Please follow us twitter, Facebook and telegram

Surf The Daily Hodl Mix

Check out the latest news headlines

&nbsp

Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should exercise caution before making risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your money transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. The Daily Hodl participates in affiliate marketing.

Generated image: In the middle of the journey