The landscape of the cryptocurrency market has been changing in recent days. While strong candidates come to the fore, some altcoin projects fall out of favor. A crypto strategist who captured the top of the Bitcoin (BTC) bull market in 2021 says an Ethereum (ETH) scaling solution trading under the radar will see an upside breakout. In addition, the analyst expects an increase in the price of 2 tokens.
Analyst: ARB needs to exceed this level, then….
cryptokoin.comAs you can follow from , the excitement in the market never ends. The latest moves of Solana, the rival of the leading altcoin Ethereum, stunned the market. However, some analysts also expect strong performance from different altcoins. Popular crypto analyst, nicknamed Pentoshi, shared his latest predictions to his 727,200 followers on social media platform X. The analyst is bullish on Arbitrum (ARB). According to Pentoshi, ARB will likely break out from there if it manages to clear the immediate resistance at $1.70. In this context, the analyst makes the following comment:
I think it needs to get above $1.70 to really get anyone excited. ARB has a great chance to trade there in the near term.
At the time of writing, ARB was trading at $1.37, down 1.73% on the day. However, the altcoin gained over 27% on its weekly chart.
According to Pentoshi, the sky is clear for this altcoin!
The analyst also keeps an eye on Injective (INJ), a decentralized exchange that aims to offer a variety of financial products, including spot trading and futures. According to Pentoshi, there is no resistance left to stop the price discovery of the altcoin project. This percentage is clear for INJ. In this regard, the analyst makes the following statement:
This is one of the wildest charts in the entire space and right now INJ is on a price discovery. So right now the sky is clear. I don’t know if you understand, but I think under $30 is a buy if given the chance.
Meanwhile, at the time of this writing, INJ was trading at $41.79, down 2.6% on the day. However, the altcoin has gained over 26% on its weekly chart. Moreover, it witnessed a significant increase of 151% in the monthly time frame.
According to the analyst, there is no resistance left for OP!
Finally, Pentoshi is also looking at another tier-2 altcoin, Optimism (OP). According to the analyst, OP has no known resistance after breaking the all-time high of $3.29. In this context, the analyst said, “Price discovery is about to begin… It is likely to continue after some consolidation, usually around exploration. So it’s a great time to buy.”
Meanwhile, at the time of writing, OP was trading at $3.45 with a daily gain of 0.2%. Besides, the altcoin witnessed a 63% increase on its weekly chart and 94% increase on its monthly chart.
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