Strong

<div class="dailyhodl">
 A crypto strategist believes that one altcoin that’s flying under the radar is gearing up for a big breakout surge.
 Pseudonymous analyst The Crypto Dog tells his 755,600 followers on the social media platform X that the native asset of the decentralized exchange (DEX) GMX (GMX) is forming a huge bullish pattern on the weekly chart.
 <div class="code-block code-block-055f5289fd7e731bb72be7c5a19d18ed code-block-1">  
 </div>
 According to the crypto strategist, GMX could witness a nearly 90% rally if it takes out its immediate resistance at $56.26.
 “GMX painting a massive multimonth inverse head and shoulders… Measure rule gives a target of $106 for GMX.”
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GCm_C60aQAADcJ1?format=jpg&amp;name=4096x4096" alt="Image" width="424" height="786">
 <figcaption class="wp-caption-text">
 Source: The Crypto Dog/X
 </figcaption>
 </figure>
 At time of writing, GMX is trading for $56.56, slightly above the trader’s resistance level.
 In addition to GMX, The Crypto Dog is also bullish on the smart contract platform Near (NEAR) and the DEX Injective (INJ).
 “I’d like to see $7+ on NEAR, ~$50 on $INJ and $62-70 on GMX.
 Will reevaluate in time if needed.
 Might not be able to hold NEAR and INJ at all. Not sure if we shape up from here or not, but the entries looked good.
 GMX looks very strong though.”
 Looking closer at NEAR, the analyst thinks that it is primed for bullish continuation after retesting $3.60 as support.
 “Ye this looks like continuation.”&nbsp;
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GCsx4riaIAAgEym?format=jpg&amp;name=4096x4096" alt="Image" width="370" height="686">
 <figcaption class="wp-caption-text">
 Source: The Crypto Dog/X
 </figcaption>
 </figure>
 At time of writing, NEAR is worth $3.74 while INJ is trading for $36.04.
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/trader-predicts-breakout-rally-for-decentralized-exchange-crypto-says-altcoin-looks-very-strong-tbt75306.html">https://thebittimes.com/trader-predicts-breakout-rally-for-decentralized-exchange-crypto-says-altcoin-looks-very-strong-tbt75306.html</a>

Trader Predicts Breakout Rally for Decentralized Exchange Crypto, Says Altcoin Looks Very Strong

TheBitTimes

Các bài viết khác được xuất bản trên 2 thg 1, 2024

Indonesian Bitcoin Mining Operations Results in Over $1 Million Electricity Theft

Market Maker Wintermute Strategically Deposits ARB Tokens Amid Price Surge

Ripple to dump this much XRP in January 2024

Sei V2 Code Is “Functionally” Complete, Audit Ongoing: New All-Time High Incoming?

Donald Trump predicts market turmoil if he loses the presidential election

Bitcoin is the “Godzilla of Finance,” Messari Says in Latest Report

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!