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 A closely followed crypto strategist thinks that one Ethereum (ETH)-based altcoin is about to soar against Bitcoin (BTC).
 Pseudonymous analyst The Crypto Dog tells his 750,500 followers on the social media platform X that the decentralized exchange protocol Injective (INJ) is looking bullish on the INJ/BTC trading pair chart.
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 “Incredibly bullish structure.”
 <figure style="width: 100%" class="wp-caption aligncenter"><img src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GD6q3PnbYAA1p2e?format=jpg&amp;name=4096x4096" alt="Image" width="1135" height="2106">
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 Source: The Crypto Dog/X
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 Looking at his chart, the trader suggests that INJ/BTC could soon flip a key resistance level into support, after failing to do so on two prior attempts in recent days.
 On October 16th INJ/BTC closed at 0.0002737 BTC ($7.80) and is now at 0.0009446 BTC ($40.75), a gain of approximately 245%.
 The trader also says that Injective looks like it is on the verge of a breakout after a period of consolidation in the high $30s and low $40s range.
 “INJ looks like another winner to come this week. Been consolidating here longer than expected, but it’s been just a matter of time.”
 <figure style="width: 100%" class="wp-caption aligncenter"><img src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GD52vcWaUAECdOB?format=jpg&amp;name=4096x4096" alt="Image" width="1136" height="2106">
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 Source: The Crypto Dog/X
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 The trader also predicts that the fan engagement token Chiliz (CHZ) is about to undergo a trend reversal.
 “I took a CHZ position. Looks ready to break this two-year-long downtrend, big gains to be made if it does. Strong project, unique fundamentals, always been a fan. One of the first to merge the real world with crypto.”
 <figure style="width: 100%" class="wp-caption aligncenter"><img loading="lazy" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GD8CZUyaIAAhyME?format=jpg&amp;name=4096x4096" alt="Image" width="1136" height="2104">
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 Source: The Crypto Dog/X
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 Chiliz is trading for $0.106 at time of writing, up nearly 17% in the last 24 hours.
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ethereum-based-altcoin-that-s-surged-245-in-three-months-looks-incredibly-bullish-versus-bitcoin-says-trader-tbt76825.html">https://thebittimes.com/ethereum-based-altcoin-that-s-surged-245-in-three-months-looks-incredibly-bullish-versus-bitcoin-says-trader-tbt76825.html</a>

Ethereum-Based Altcoin That’s Surged 245% in Three Months Looks ‘Incredibly Bullish’ Versus Bitcoin, Says Trader

TheBitTimes

Other articles published on Jan 17, 2024

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