Popular crypto analyst Inmortal has predicted a new rally for the Tier-0 altcoin project with a small market cap. The asset that the analyst draws attention to is constellation (DAG) happened.
Scalping solution Constellation (DAG) appears to be close to an uptrend after bouncing off a key $0.05 level following a long accumulation phase. This accumulation phase lasted an average of 400 days. The analyst expects a rally towards $0.12 after this accumulation phase.
The Constellation Layer-0 protocol is designed as a scalable distributed network that provides developers with the ability to create blockchains, mint crypto assets, and develop decentralized applications. Layer-0 refers to the base layer of a blockchain network.
The project states that HGTP (Hypergraph Transfer Protocol) is the underlying technology of the network and compares layer-0 technology to protocols that create HTTP frames for websites.
“The Layer-0 standard is a protocol that serves as the foundation for all other protocols built on top of it. So it can be compared to WordPress, which is a well-established solution.
While WordPress provides a framework for websites and businesses to be developed over HTTP, Constellation’s Layer-0 standard provides the foundation for blockchain projects built with HGTP logic.”
The trader also stated that he is bullish on decentralized finance (DeFi) altcoin Radix (XRD).
According to the trader’s chart, he claims that if Radix can break the area around $0.045 into support, it could initiate an uptrend that reverses the descending triangle formation.
XRD is trading at $0.043, down nearly 7% in the last 24 hours.
