A popular cryptocurrency analyst known for his accurate predictions thinks altcoins are setting the stage for an explosive rally.
As an analyst who monitors the fluctuations in the crypto world, Pentoshi predicts that altcoins may experience a big boom in the coming period. This positive perspective on cryptocurrencies attracts the attention of investors and crypto enthusiasts.
According to Pentoshi’s analysis, altcoins are preparing for a big rally in the short term. states. This could be a harbinger of sudden increases in the value of cryptocurrencies and shows that investors have the potential to make huge returns during this period. However, Pentoshi also emphasizes that these predictions are his personal views and can always be wrong.
“I think in the short term we will have a mini subseason lasting three to six weeks. But as always this is my opinion and I could be wrong. “I saw a lot of signals and I will share why it should be supported.”
The trader also updated his predictions for a number of altcoins, especially Injective (INJ). He said the following about INJ:
“I can’t advocate buying here. It is very close to a historically strong resistance. Expect either a purple box lower or a clear pullback above. The middle level is a great way to relax, but congratulations to those who have already done well.”
Another altcoin on the analyst’s radar is RLB, the native token of crypto gambling platform Rollbit. The analyst thinks that the altcoin will confirm the bullish trend if it reaches a high, which is why he says he is watching RLB closely.
“RLB: I have no investments at the moment. “To be honest, I will wait for new highs to come, so I will not touch it for now.”
Looking at Polygon (MATIC), the analyst believes that the altcoin is heading towards the $0.70 range.
“MATIC: This looks good, also had a nice pullback. “A great opportunity to move towards the $0.74 area in the short term.”
The trader recently said that artificial intelligence altcoin Fetch.AI (FET) broke a key resistance level and appears to be in an uptrend.
Think this looks great on all time frames, reclaim of a key spot that has acted as resistance and would love to get some bids closer to the bottom white line but started a starter bag pic.twitter.com/OaKrPFScdg
— Pentoshi 🐧 euroPeng 🇪🇺 (@Pentosh1) October 25, 2023
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