Crypto analyst nicknamed The Flow Horse says a low-cap decentralized finance (DeFi) altcoin project is setting the stage for a major rally. Crypto analyst David, on the other hand, expects a sharp increase in the Threshold (T) price.
This altcoin is poised to go through the roof!
cryptokoin.comAs you follow from , the leading crypto Bitcoin broke 43 thousand dollars with a strong move. Thus, it increased the upward momentum for altcoins as well. Crypto analyst nicknamed The Flow Horse says fundamental metrics show Pendle (PENDLE), which allows users to tokenize and sell future returns, is about to take off. In this context, the analyst makes the following statement for the altcoin:
OK PENDLE definitely looks like it’s about to go through the roof.
– Full recovery.
– New annual highs s/r flip (support/resistance) successful.
– Low volatility.
Meanwhile, Pendle was trading at $1.32 at the time of writing, up over 6% in the last 24 hours. The altcoin increased by approximately 24% on its weekly chart.
The leading altcoin will do something similar to Bitcoin!
The Flow Horse predicts that capital will begin to flow into Ethereum (ETH) on a large scale after the rallies for Bitcoin (BTC) and ETH rival Solana (SOL) slow down. According to the analyst, the leading altcoin is preparing for a big game of catch-up. Therefore, from a technical perspective, the analyst states that ETH is preparing to break out in a similar way to what BTC did a while ago. In this regard, The Flow Horse makes the following statement:
So I’m sure this will catch on. Once BTC cools down and ETFs are approved after January 10th, fingers crossed, I’m sure we’ll see a lot of capital flows into ETH. I think you can also expect some capital held in Solana to return to ETH.
Threshold (T) price is ready for a sharp increase!
Crypto analyst David evaluates Threshold’s technical picture. The altcoin price declined after being rejected by the long-term resistance zone at $0.048 in February and March 2023 (red arrows). This move dropped the price to a key support zone at $0.016 on June 5 and recovered. After an initial recovery, T price was rejected again near the $0.027 resistance zone. Additionally, it fell to the $0.016 support zone on September 11 (green arrow). The bounce confirmed the formation of a double bottom pattern. This is a bullish pattern usually seen at the end of a downtrend.
Indeed, the altcoin price has risen since then. It also made a higher low during the week of November 20-26. This signals the beginning of a new uptrend. Thus, it indicates a shift in sentiment from selling on rallies to buying on declines. The weekly RSI (Relative Strength Index) rose from the 50 level. Thus, it formed a bullish divergence before the upward move. Both are bullish signals and support the possibility of further increases. Therefore, T price could rise above the nearest horizontal resistance at $0.027 and rise to the next resistance zone at $0.048. This figure corresponds to a 79.12% increase from the current altcoin price.
The predictions and opinions in the article belong to the analysts and are definitely not investment advice. We strongly recommend that you do your own research before investing.
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