In a new strategy meeting, Merten said he was focusing on a most promising area with the altcoins breakout.
“Overall, altcoins are still creating the conditions for a destructive outbreak and will continue to outperform Bitcoin for the remainder of the year. But I want to talk about the area that piqued my interest.
There is Metaverse, there is NFT, there is DeFi … So what is really the proven and ongoing trend in the crypto space? Yes, I see layers 1 emerging.
Merten said the evolving Layer 1 protocols are the “best bet” for investors in this market, highlighting three coins to watch.
According to the analyst, e-Radix (EXRD), the first Layer 1 built specifically for DeFi, is showing particular dynamics in its Bitcoin pair (EXRD / BTC).
“Against Bitcoin, you can see that it has broken a descending wedge, the volume has really increased, the price has really started to break out and the dynamics are really phenomenal. Every time he withdraws he finds support above the previous resistance … ”
Source: Nicholas Merten
EXRD is trading at $ 0.4965 at press time, nearly 500% more than its 30-day low of $ 0.11017.
Switch to Energi (NRG), a blockchain platform with smart contract functions, decentralized voting and a self-financing treasury – according to analysts, the altcoin could explode motionless for a long time after a “warning”.
“I think now, with so much fundamentals backing Energi, it can jump higher and go higher. I like to find pieces that are calm and have the basics. ”
Source: Nicholas Merten
NRG is trading at $ 2.28 at press time, up 29% from its 7-day low of $ 1.62.
Finally, Merten provides information about MIOTA, a distributed open source ledger with a focus on the Internet of Things. The analyst says that like EXRD, MIOTA is in a long-term accumulation pattern and is about to break out.
Source: Nicholas Merten
MIOTA is currently trading at $ 1.39, up 21% from the 7-day low of $ 1.15.
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