An analyst has reversed his bullish stance on one Ethereum rival and says the layer 1 altcoin looks interesting again after a long time.

A widely respected cryptocurrency strategist believes one Ethereum (ETH) rival is poised to witness a breakout rally.

Pseudonymous analyst The Crypto Dog tells his 775,100 followers on social media platform X that he is bullish on smart contract protocol Near (NEAR).

The analyst shares a chart that suggests NEAR is threatening to remove diagonal resistance from the daily chart.

“NEAR is moving soon. Maybe not today, but maybe soon.

BTC flat, SOL red, and NEAR green attract attention.”

Despite Near still struggling to move above the diagonal resistance, analysts say it is only a matter of time before Near breaks through and rebounds to around $9.

“All right. Don’t bother. It’s going as I originally expected.

But still keep an eye on NEAR. This will re-test and push against the highs we have just achieved.”

As of this writing, NEAR is worth $7.06.

Next, the trader said he is closely watching layer 1 altcoin Injective (INJ). According to analysts, altcoins are starting to look interesting again after INJ bulls defended the $30 price zone.

“INJ “It might become interesting again after a long time.”

As of this writing, INJ is trading at $34.85, up almost 2% in the past day.

Regarding the broader cryptocurrency market, the analyst said: think The latest modifications are designed to eliminate weak hands.

“Maybe I’m optimistic, but I’ve been feeling shaky the last few days. There is fundamental optimism in these markets until something happens that significantly shakes up the status quo. “We need to set a firm direction within the next seven days,” he said.

Don’t miss a beat – subscribe to get email alerts delivered straight to your inbox

Check Price Action

follow us TwitterFacebook, Telegram

Daily Hodl Mix Surfing

&nbsp

Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you are responsible for any losses that may occur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

Image created by: Midjourney