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Home»ALTCOIN NEWS»Traders predict a breakout rally in decentralized exchange cryptocurrencies and say altcoins look very strong.
ALTCOIN NEWS

Traders predict a breakout rally in decentralized exchange cryptocurrencies and say altcoins look very strong.

By Crypto FlexsJanuary 2, 20242 Mins Read
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Traders predict a breakout rally in decentralized exchange cryptocurrencies and say altcoins look very strong.
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A cryptocurrency strategist believes an altcoin that has been flying under the radar is primed for a big surge.

Pseudonymous analyst The Crypto Dog tells his 755,600 followers on social media platform X that the underlying assets of decentralized exchange (DEX) GMX (GMX) are: formation A large bullish pattern appears on the weekly chart.

According to cryptocurrency strategists, GMX could witness a rise of nearly 90% if it overcomes the immediate resistance at $56.26.

“GMX is pictured head and shoulders above multiple months…Measurement rules provide a $106 target for GMX.”

source: Cryptodoc/X

As of this writing, GMX is trading at $56.56, slightly above traders’ resistance level.

Besides GMX, there is also The Crypto Dog. optimistic On smart contract platforms Near (NEAR) and DEX Injective (INJ).

“I would like to see $7+ in NEAR, ~$50 in $INJ, and $62-70 in GMX.

We will reassess in time if necessary.

You may not have NEAR and INJ at all. Not sure if we got into shape from here, but the items looked good.

But GMX looks very strong.”

Taking a closer look at NEAR, the analyst believes that a continuation of the bullish streak is poised after retesting $3.60 as support.

“Yes, it seems to be continuing.”

video
source: Cryptodoc/X

As of this writing, the price of NEAR is $3.74 and the price of INJ is $36.04.

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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.

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