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A popular crypto strategist and trader predicts a further rally for two low-cap altcoins that have shown strength recently.
A pseudonymous analyst, known in the industry as Altcoin Sherpa, has 184,400 Twitter followers telling him about the decentralized derivatives exchange Injective Protocol (ink) is a gift that keeps on giving.
This whole area ($2.00) is a big supply zone. Ride this, entry is about $1.80.”
At the time of writing, INJ is trading at $1.93, up more than 8% over the past seven days. Altcoin Sherpa’s move towards target suggests that INJ could rise by nearly 30%.
Another altcoin on the trader’s radar is SushiSwap (Sushi), which is also a decentralized exchange protocol. According to Altcoin Sherpa, SUSHI faces some resistance at current levels, but he believes the altcoin will continue to rise towards its goals.
“SUSHI: The current area is kind of scary, but I think it’s probably going to be $1.60 in the end.”
At the time of writing, SUSHI is trading at $1.38, up more than 22% over the past seven days.
Regarding Bitcoin (Bitcoin), popular analysts predict that if Kingcrypt fails to hold that range’s equilibrium at around $19,500, it will drop to the $18,000 level.
Two scenarios I’m looking at. This is uncharted territory for now. Conflicting signals and exponential moving averages are all close to price. If is reversing very consistently between EMAs, it is less likely to be strong support or resistance in my opinion.”
At the time of writing, Bitcoin is trading flat for the day at $19,412, below range equilibrium for the Altcoin Sherpa.
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Featured Image: Shutterstock/Tithi Luadthong/Natalia Siiatovskaia
