The analyst, known to have called the Crypto Bull Cycle Top in November 2021, believes that the Altcoin market will witness the return of strong driving force.
A pseudonym, Pentoshi, a close watch from the Altcoin index, which tracks the market cap of all password assets except Bitcoin (BTC), Ethereum (ETH) and Stablecoin on 857,000 followers in social media platform X. It is said to be maintained.
According to PENTOSHI, others appear to be carving $ 250 billion in local bottoms and threaten to shatter immediate resistance for $ 250 billion.
“ALTS’s potential low time frame double floor is formed at $ 250 billion.
Still, we think that we have played this well, and we are looking for it to go back to $ 280 billion. If we find it, we get a good movement for real slogans. ”
The double bottom pattern is a strong reversal structure that indicates that assets or indexes form a solid demand area and set up the upright burst.
Pentoshi predicts that if you get a resistance to $ 28.1 billion, others can increase about 15%.
“The market looked better and the market had many opportunities to sell.
The potential height is low in the range of $ 330 billion. Again, it would be most important to watch the area for the next major trend. ”
At the time of writing, others are trading for $ 271.63 billion.
One Altcoin in the radar of the trader is the basic asset of the Layer-1 protocol injection (INF). According to the analyst, INJ appears to respect high time frame support for $ 14 and is looking for a bounce for $ 17.58.
“It still looks good, I’ve already hit $ 16. I’m getting better now.”
At the time of writing, INJ is worth $ 15.26.
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Created image: Midjourney