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