One widely respected analyst believes that new decentralized finance (DeFi) altcoins are poised for huge gains.
The governance token of Solana (SOL)-based decentralized exchange aggregator Jupiter (JUP) appears to be preparing for a parabolic surge, pseudonymous analyst Inmortal told his 209,300 followers on social media platform
Inmortal shares a chart that suggests JUP is poised to rise to a new all-time high of $2.30, an increase of over 207% from current levels.
As of this writing, JUP is trading at $0.747.
Next, traders are closely watching Chainlink (LINK), a decentralized oracle network. Inmortal says it expects LINK to consolidate for a few weeks before moving higher.
“Range top + moving average 200 (retest). “I think you can go a step further by paying a week or two more between $17 and $21.”
As of this writing, LINK is worth $20.01.
Another coin on traders’ radar is Constellation (DAG), a cryptocurrency platform built on the directed acyclic graph (DAG) structure. According to Inmortal, DAG is positioned to witness an upward trend after a long accumulation period.
“I like the DAG chart.
+500 days accumulated and ready to expand next month.
“It’s not something you see every day.”
Looking at the trader’s chart, he appears to have marked $0.10, $0.20, and $0.46 as key resistance levels for DAG. As of this writing, DAG is worth $0.076.
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