Top crypto strategist and trader Crypto Rand says a select number of altcoins including Ethereum (ETH) and XRP are poised to ignite bullish breakouts.
Rand tells his 220,000 Twitter followers that Ethereum, which he refers to as “the money printer,” is ready to launch the next leg up as it breaches the resistance of a bullish continuation pattern.
“ETH wants to catch up with BTC. Bull pennant breaking out.”
The trader is also looking at Ripple’s native asset XRP, which he thinks is primed to go above resistance at $0.28 first and then $0.33.
“XRP wants to join the party. Bullish breakout.”
Rand is also bullish on blockchain-based digital advertising platform Basic Attention Token (BAT). The trader expects the crypto token to surge nearly 30% to above $0.28 as BAT breaks out from a bullish reversal pattern.
“BAT | Wonderful setup.”
As for blockchain scalability solution Matic Network (MATIC), Rand believes that the stage is set for the low-cap altcoin to catalyze a bullish rally after MATIC took out the diagonal resistance that has kept the coin bearish since August.
“MATIC | What an amazing setup!”
Rand is also keeping a close watch on the decentralized finance (DeFi) darling yearn.finance (YFI).
The trader implies that the brutal correction, which sent YFI from an all-time high of $43,873 in mid-September to around $12,260 earlier this month, may have come to an end. The trader highlights the price levels of around $16,000, $20,000, and $34,000 as areas of interest for bulls.
“Looks like $YFI wants to fly.”
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Art Furnace
