A prime crypto strategist and dealer is preserving a detailed watch on a red-hot altcoin that he says is ripe to go parabolic even after doubling its worth in two weeks.
The pseudonymous dealer, identified within the trade as Pentoshi, tells his 285,000 Twitter followers that he’s bullish on REN, a platform that powers transactions between totally different blockchain platforms. Based on Pentoshi, REN is flashing indicators of energy in each the USD and BTC pairs.
“Have been ready for this pullback a few days. Lastly acquired it. Appears unimaginable market structure-wise.
LTF/HTF (low timeframe/excessive timeframe) parabola forming. Tremendous clear pattern of HH + HLs (larger highs + larger lows). Constructing momentum. Precisely what you need to see. For now, concentrating on $1.34 on USD pair.”
CoinGecko exhibits that REN ignited a large transfer from $0.64 on September 13th to $1.17 on September 27th, marking an 82% surge in simply two weeks.
One other coin on the dealer’s radar is Cosmos (ATOM), a undertaking dubbed the “web of blockchains.” Based on Pentoshi, Cosmos appears to be like robust in opposition to Bitcoin (ATOM/BTC) after taking out a vital resistance space at 0.0007 BTC, price $29.54.
“ATOM replace:
Waking up. Multi-year breakout confirmed on the retest. Clear skies forward.”
As for ATOM/USD, Pentoshi believes the pair is now poised to print a brand new all-time excessive after retesting the important thing stage at $33 as help.
“As a result of worth discovery is beginning, it’s more durable to say. However I feel ATOM to $68-$70 is an effective worth goal within the coming weeks per [Fibonacci extension].”
Do not Miss a Beat – Subscribe to get crypto electronic mail alerts delivered on to your inbox
Observe us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
