Ethereum

Flow

Ethena

Rekt

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 A widely followed crypto analyst believes one Ethereum (ETH)-based decentralized finance (DeFi) token is&nbsp;being set up&nbsp;for a large rally.
 According to pseudonymous trader The Flow Horse, the governance token of Ethena (ENA) is one of many new altcoins presenting opportunities, but requires patience&nbsp;for payoff.
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 “There are a couple pairs that I am eyeing that are relatively new and have been going through their first longer-rounded pullbacks similar to ENA below.
 Almost all new alts offer&nbsp;a&nbsp;very&nbsp;basic&nbsp;and reliable diagonal breakout setup if you are patient enough.
 I think this is setting up to move much higher. Unlocks are still a year out.”
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GM5NiFdXgAA_Lho?format=jpg&amp;name=medium" alt="" width="1063" height="499">
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 Source: The Flow Horse/X
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 According to another crypto analyst called Altcoin Sherpa, ENA&nbsp;appears&nbsp;likely to extend its upward momentum after retesting the Fibonacci retracement level at $0.76.
 “ENA: I’m out of this one&nbsp;but&nbsp;I think it looks solid. .618 Fibonacci + support/resistance level and market looking ok.”
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GMlP_u1XoAAlyjS?format=png&amp;name=medium" alt="" width="1063" height="499">
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 Source: Altcoin Sherpa/X
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 Looking at the altcoin markets as a whole, another pseudonymous trader known as Rekt Capital tells&nbsp;his 461,000 followers on the social media platform X that the OTHERS chart, which tracks the market cap of all cryptocurrencies excluding the&nbsp;10&nbsp;largest digital assets, is potentially gearing up for a bounce off the $250 billion level.
 Based on his chart, the analyst appears to&nbsp;be initially targeting&nbsp;the $315 billion level before an eventual run to the old highs near $425 billion.
 “Altcoin Market Cap is still holding the $250 billion well as support, positioning itself for a future move to the upside via the black pathway.”
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GMvi7yyWwAArhDF?format=jpg&amp;name=large" alt="" width="1063" height="499">
 <figcaption id="caption-attachment-190710" class="wp-caption-text">
 Source: Rekt Capital/X
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 ENA is worth $0.885 at time of writing, up 8%&nbsp;on the day.
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/top-trader-says-says-one-new-altcoin-project-set-to-go-much-higher-amid-reliable-setups-in-market-tbt87592.html">https://thebittimes.com/top-trader-says-says-one-new-altcoin-project-set-to-go-much-higher-amid-reliable-setups-in-market-tbt87592.html</a>

Top Trader Says Says One New Altcoin Project Set To Go Much Higher Amid ‘Reliable Setups’ In Market

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