A popular crypto strategist shared his predictions for a newly launched altcoin.
Popular crypto analyst Cantering Clark has his 160,600 Twitter followers eyeing Blur (BLUR). told. According to the analyst, traders believe the ETH-based altcoin will drop and therefore open a short position. This could trigger a massive rally for the altcoin.
“The leading exchange in terms of volume and open interest for BLUR is OKX. Funding is currently going negative as open interest rises similar to the start of the initial rise. I think we have more squeezing ahead of us.”
Short squeeze is the result of an asset’s price skyrocketing as many short traders have to close their positions.
As far as BLUR is concerned, Cantering Clark believes the altcoin could hit an all-time high as long as it trades above $1.
“Being above $1 again leads to a quick return to all-time highs. (…) The bull appears. $1.50 seems reasonable.”
At press time, BLUR is trading at $1.27, suggesting a potential upside of around 300% if it hits an all-time high of $5.02.
Koinfinans.com As we reported, Cantering Clark also examines the leading altcoin Ethereum and draws attention to the possibility that ETH will reflect the 2019 market structure. At that time, ETH managed to rise from below $100 to $400 before correcting around $100.
“Fomo [kaçırma korkusu] try not to…
S İ METR İ.”
Looking at the trader’s chart, it seems to suggest that ETH could rally above $2,000 before another major correction if Ethereum mimics the 2019 price action. At press time, ETH is trading at $1,677.
You can follow the current price action here.