A widely followed crypto analyst and trader says XRP, Bitcoin Cash and two other crypto assets are poised to ignite rallies to potentially outperform Bitcoin (BTC).
The popular crypto strategist, known in the industry as DonAlt, tells his 289,000 followers that the XRP/BTC pair is printing a large inverse head-and-shoulders pattern, which is a technical formation that could signal the emergence of an uptrend.
“Inverse head and shoulders on top of HTF [high timeframe] cycle bottom support… Up 50% and still far away from resistance. I’ll just be patient and hold. If it full-blown reverses on me, I’ll sell a bit above breakeven. Looks pretty good to me.”
According to DonAlt’s chart, the XRP/BTC pair could surge to 0.00007852 BTC, worth $3.77 at time of writing. The move to the price target marks a 185% upside potential for the pair’s current value, which is 0.00002748 BTC ($1.31) at time of writing.
Next up is decentralized peer-to-peer electronic cash system Bitcoin Cash (BCH). DonAlt says the BCH/BTC pair has managed to stay above a key support level and is now ready to rally to his target above 0.02 BTC, worth $950.
“Honestly looks like a good setup here. Next resistance is like 50% away, and invalidation is tight.”
The next coin is supply chain management platform VeChain (VET). According to DonAlt, VeChain is showing signs of life against Bitcoin (VET/BTC) after holding support at 0.00000196 BTC ($0.09). Should the pair hold the crucial price area, DonAlt sees VET/BTC skyrocketing to 0.0000045 BTC, worth $0.21.
“Wrong below green (196 satoshis). Right and scaling out above red (450 satoshis).”
The last coin is blockchain-based operating system Tron (TRX). DonAlt says that the TRX/BTC pair has successfully retested a key support level in the weekly timeframe at 0.0000015 BTC ($0.07). Should TRX/BTC follow the strategist’s script, DonAlt sees it rallying to 0.000003 BTC, or $0.14.
“TRX actually looks quite good against BTC here. Invalidation below green (150 satoshis). Target red (300 satoshis).
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
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 cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/nazarovsergey
