A cryptocurrency analyst who accurately predicted the peak of Bitcoin’s 2021 bull market shared his latest predictions. According to the analyst, altcoin projects are paving the way for an explosive rally.
Is a new altcoin season coming?
cryptokoin.comAs you follow from , the bulls are back in the market. Amid the positive sentiment, leading cryptocurrency Bitcoin is up nearly 15% on its weekly chart. However, some altcoin projects came to the fore. The analyst, nicknamed Pentoshi, shared his latest predictions with his 705,600 followers on the social media platform X. According to the analyst, it is possible for some altcoins to make a 6-week run. In this context, the analyst explained the following predictions:
I think we will experience a mini altcoin season lasting 3 to 6 weeks in the near term. But as always, this is my opinion and I can and will be wrong. I’ve seen a lot of signs and I’m going to start a thread on why I support this.
INJ is very close to a historically strong resistance
The analyst is also updating his outlook for a number of altcoins, starting with decentralized derivatives exchange Injective (INJ). In this context, the analyst shares the following assessment for INJ:
I couldn’t justify purchasing here. It is very close to a historically strong resistance. I would expect either a lower purple box or a clean recovery above. Staying in the middle is a great way to get rect. But for those who have already done a good job, congratulations.
At press time, INJ was trading at $13.29, up 13.2% on a daily basis. The altcoin is sitting on a 55.5% gain on its weekly chart.
Pentoshi: This altcoin is on its way to new heights!
The analyst then says that he is closely monitoring the native token of crypto casino platform Rollbit (RLB). Pentoshi notes that if the RLB price sets a higher high, it will confirm the bullish trend. The analyst explains his views on this subject as follows:
RLB: I don’t have any right now. To be honest, I will wait for it to reach new heights. That’s why I’m not touching it for now.
At the time of writing, RLB was trading at $0.1785, down 1.5% on a daily basis. However, the altcoin is up nearly 10% on its weekly chart.
Analyst expects rise for MATIC and FET
Pentoshi also takes a look at Polygon (MATIC). The analyst says the layer-2 scaling solution is moving towards the $0.70 range. In this context, Pentoshi said, “MATIC: This looks good, there was also a good recovery. “There is a chance of going up to $0.74 in the short term.” says
Finally, the analyst says that artificial intelligence (AI) altcoin Fetch.AI (FET) has broken through an important resistance level. Therefore, he states that FET is in an upward trend. The analyst explains his predictions about the altcoin as follows:
FET: I think this looks great in all time periods. I would like to regain a key point that acts as resistance and get some offers closer to the lower white line but it has started a starting bag.
To be informed about the latest developments, follow us twitter‘in, Facebookin and InstagramFollow on and Telegram And YouTube Join our channel!