A cryptocurrency strategist on top of the 2021 Bitcoin (BTC) bull market believes one of the Ethereum (ETH) scaling solutions that has been trading under the radar will see an uptick.
Pentoshi, a pseudonymous cryptocurrency strategist, told his 727,200 followers on social media platform X that he is bullish on Arbitrum (ARB).
According to analysts, ARB is likely to get a shot if it overcomes immediate resistance at $1.70.
“I think it has to be above $1.70 to really excite someone. There is a great opportunity to trade in the short term.”
As of this writing, ARB is trading at $1.38.
Analysts are also keeping an eye on Injective (INJ), a decentralized exchange that aims to offer a variety of financial products, including spot trading and futures. According to Pentoshi, the sky is clear for INJ as there is no resistance left to block price discovery for the altcoin.
“This is one of the craziest charts in the entire space and is currently in price search. So the sky is clear now. I don’t know if you’ll get it, but I think it’s a good idea to get it for under $30 if you get the chance.”
As of this writing, INJ is trading at $42.14.
The analyst is also looking at Optimism (OP), another layer 2 altcoin. According to Pentoshi, OP has no known resistance remaining after recently hitting an all-time high of $3.29.
“Price discovery is just around the corner… Discovery is often a good time to buy as it is likely to continue after some consolidation.”
As of this writing, OP is worth $3.42.
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