Analysts who have pinpointed the end of Bitcoin’s (BTC) 2021 bull market believe that one low-cap altcoin could ignite a rally amid a surge of bullish catalysts.
Pentoshi, a pseudonymous analyst, has told his 674,900 Twitter followers that he has amassed Synapse (SYN), a protocol aimed at enabling secure cross-chain communication.
Pentosi said the project is likely to witness a bullish event, which could push SYN towards his goals.
“Before going to bed. I wanted to share how I am going to play. The most important levels marked technically. Fundamental analysis to revolve around Synchain/DApps. , we believe there will be 3 or so catalysts in the next 1-6 weeks.
Synchain is invoice It is a next-generation blockchain that aims to solve scalability and security issues. At this time, there have been no clear announcements suggesting a partnership between Synapse and Synchain.
Looking at Pentoshi’s chart, he seems to have multiple targets for SYN ranging from $1.47 to $3.75.a crypto analyst To tell He bid between $1.20 and $1.25 in case of remedial action.
At the time of writing, SYN is trading at $1.33, up over 4%.
Looking at Bitcoin, crypto strategists see BTC falling to around $21,200.
“Bitcoin current range. “
Bitcoin is worth $21,800 at the time of writing, a slight drop for the day.
As for the broader crypto market, Pentosi Warning The cryptocurrency could see a tough 2023 as regulators crack down on the nascent industry.
“As we have seen this week, it is clear that this is going to be a tough year from a regulatory perspective. [crypto market participants] Overcoming the suit, Animal Spirit finally triumphs. “
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Featured Image: Shutterstock/Moksha Labs/Natalia Siiatovskaia
