A popular crypto trader has also predicted a new rally for an already rising Ethereum (ETH)-based altcoin.
Known as Credible in the crypto markets, the analyst drew the attention of his 337,700 Twitter followers to OriginTrail (TRAC). The altcoin started the week at $0.27 and rallied as high as $0.48 on Wednesday. This altcoin project is designed to help businesses and organizations securely store and manage critical information.
According to the analyst, TRAC can continue its rally even though it has experienced a big rise. Credible predicts TRAC will rise to $0.93, up more than 111% from its current price. doing.
In addition, the trader says that the path to the higher price target for the altcoin could involve a momentary drop to $0.35.
“If you are on the edge, the next best entry would be a retest of the $0.35 level. There’s no guarantee we’ll get it (…) and if you missed the opportunity the first time, it’s a good chance to load up or hop on the train.”
The analyst also shared details about his own TRAC investment. Credible said it had collected more TRAC at the start of the increase, between $0.27 and $0.34.
“Here I added to my TRAC bag, more than doubled my position at $0.26 and lowered my average cost to $0.35. I expect an all-time high in this cycle, but the first target is 3x-4x to about $1 a great level.”
You can follow the current price action here.