A popular crypto strategist and trader is predicting massive rallies for Decentraland (MANA) and Zilliqa (ZIL) as he believes Bitcoin (BTC) is ready to come out of its protracted accumulation period.
Analyst TechDev tells 380,100 Twitter followers that virtual reality platform Decentraland is currently trading in a long ascending channel on the weekly chart. told.
“MANA has one of the clearest channels with a clear repetitive nature.”
Looking at the chart, TechDev predicts a staggering 730% rally for MANA in the coming months. At the time of writing, Decentraland is trading at $2.65, according to data from CoinMarketCap.
Next up is Zilliqa, a blockchain for enterprise solutions. Zilliqa will correct to around $0.09 before TechDev starts a massive rally above $1.10 guesses.
“I think Zilliqa is leading the market.”
TechDev’s Zilliqa prediction is based on Elliott Wave theory. This theory is a technical analysis approach that tends to manifest in waves, predicting future price action based on the psychology of market participants. According to TechDev’s chart, Zilliqa is currently in the middle of its fifth and final wave.
The crypto strategist, who also studies Bitcoin, thinks that BTC will reach its all-time high of $ 69,000. While doing this, the analyst adds that the current BTC chart appears to follow the market structure from May to July 2021.
According to TechDev, the move above $45,000 indicates that Bitcoin is preparing for the next leg of the bull market.
“Comparison of the last two BTC reaccumulation zones. Assuming the range highs are turned to support and the SOS (strength sign) is confirmed… If I swing trade on the lower and mid timeframes as the areas are reached (range highs are turned to support), the next levels are where I would want to profit/re-entry.”
You can check the price movements here.
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.