A popular cryptocurrency analyst and trader is expressing bullish sentiment on two specific altcoins as the digital asset markets begin to flash signs of bullishness.
Starting with Shiba Inu (SHIB), pseudonymous analyst Smart Contracter tells his 213,500 Twitter followers that his bullish trade idea for the meme coin published earlier this week is all “going according to plan.”
Late last month, Smart Contracter predicted that Shiba Inu would rally and follow in the footsteps of the leading meme coin Dogecoin (DOGE) which was surging at the time.
“If you missed DOGE, which is fine by the way, you still have a chance to hop in SHIB with all the other ret***s who will buy it thinking they missed DOGE.”
Looking at the chart, the analyst appears to be predicting that SHIB will significantly outperform Bitcoin, just like Dogecoin did in the last few weeks.
Shiba Inu, an altcoin built on the Ethereum (ETH) blockchain, is trading at $0.0000125 at time of writing, up over 16% over the past seven days.
Turning to decentralized finance (DeFi) altcoin Curve DAO (CRV), Smart Contracter says that the 84th-largest crypto asset by market cap is on the verge of a breakout after forming a reversal pattern on the daily chart.
“Beautiful inverse head and shoulders setup within a multi-month downtrend break on CRV.”
Looking at the chart, the trader appears to be targeting $1.62 for CRV, suggesting a nearly 60% upside potential for the Ethereum-based token.
CRV is trading at $1.02 at time of writing, up 10.50% over the past 24 hours.
In June of 2018 when Bitcoin was trading above $6,000, Smart Contracter predicted that the flagship crypto asset would bottom out at exactly $3,200, give or take $200. Six months later, Bitcoin bottomed out at around $3,150.
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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/Aleksandra Bataeva
