A prominent analyst is closely monitoring an altcoin that he believes is ripe for parabolic movement, even after doubling in value in two weeks.
The person known in the industry as Pentoshi told his 285,000 Twitter followers that he was optimistic about REN, a platform that enables transactions between different blockchains. REN is showing signs of strength in both the USD and BTC pairs, according to Pentoshi.
“Have been waiting for this retracement for the past few days. I can finally wait. The market structure is bullish.
Parabolic formation LTF / HTF (low time frame / high time frame). Make higher lows and higher highs. Build momentum. Aim at $ 1.34 for the USD pair for now. “
CoinGecko reveals that REN sparked a massive surge from $ 0.64 on September 13 to $ 1.17 on September 27, an 82% increase in just two weeks.
The source: Pentoshi / Twitter
Source: Pentoshi / Twitter
Another coin on the analyst’s radar is Cosmos (ATOM), a project dubbed the “Internet of the Blockchain”. According to Pentoshi, Cosmos looks strong in the Bitcoin (ATOM / BTC) pair after breaking a key resistance area at 0.0007 BTC ($ 29.54).
“ATOM update:
Break out of the perennial resistance and then acknowledge it as support. Clear sky in front of us. “
The source: Pentoshi / Twitter
As for ATOM / USD, Pentoshi believes the pair is now poised to hit new all-time highs after flipping key levels at USD 33 as support.
“Since pricing started it’s harder to say. But I think ATOM will rise to $ 68-70 in the coming weeks [Fibonacci mở rộng]”.
The source: Pentoshi / Twitter
Here you can see the REN and ATOM prices.
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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
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