A popular crypto strategist said that an explosive performing altcoin; Although it has nearly doubled in value in just two weeks, it says it is poised to experience a parabolic rise. According to the analyst, ATOM, the cryptocurrency of Cosmos, known as the internet of blockchains, also looks strong against Bitcoin.
The trader, a top investor known in the industry as Pentoshi, tells his 285,000 Twitter followers that he is bullish on REN, a platform that facilitates transactions between different blockchain platforms. According to Pentoshi, the REN is showing signs of strength on both the USD and BTC pairs.
“I’ve been waiting for this retreat for a few days. We finally saw this. It looks incredible in terms of market structure.
LTF/HTF (low timeframe/high timeframe) is forming a parabolic uptrend. The super clean trend of HH + HLs (higher high + higher low) is gaining momentum. This is exactly what I want to see. We are currently targeting $1.34 in USD pair”
According to CoinGecko, the REN started a big move from $0.64 on September 13 to $1.17 on September 27, gaining 82 percent in just two weeks. The REN is trading at $0.98 at the time of writing.
Another cryptocurrency on Trader’s radar is Cosmos (ATOM), a project called the “internet of blockchains.” According to Pentoshi, Cosmos looks pretty strong on the Bitcoin (ATOM/BTC) pair if it can break the crucial resistance area of 0.0007 BTC at $29.70.
“ATOM update: Waking up. Retesting confirmed the perennial breakout. The sky is pretty clear in the future.”
As for ATOM/USD, Pentoshi believes the pair is ready to print its all-time high after retesting the key $33 level as support.
“It’s hard to say as price exploration has begun. However, [Fibonacci uzantısına] Based on this, I believe the $68-$70 range is a good price target for ATOM in the coming weeks.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.