The crypto strategist who nailed the end of Bitcoin’s (BTC) bull market last year says one Ethereum (ETH) rival is gearing up for a rally.
The pseudonymous analyst known in the industry as Pentoshi tells his 660,100 Twitter followers that smart contract platform Avalanche (AVAX) looks bullish on the lower timeframes.
“Bought some AVAX. Will be looking to add on dips. Pretty decent low timeframe structure forming, in my opinion.”
At time of writing, AVAX is switching hands at $13.66, suggesting an upside potential of nearly 10% should Avalanche hit Pentoshi’s initial target of $14.83, and a 44.8% surge if the ETH rival reaches the analyst’s next resistance level at $19.78.
Looking at Bitcoin, Pentoshi believes the top crypto still has some room to run before it faces a key resistance level around $17,500.
“If you don’t like idea. You don’t have to follow it. You are adult. Adults make decision. Either way, so far it’s going okay. Up to you to manage your positions. I just share idea. I am still trading with small size for now.”Â
At time of writing, Bitcoin is trading at $17,016.
As for Chainlink (LINK), Pentoshi predicts a nearly 20% surge for the decentralized oracle network from its current price of $7.35.
“LINK update: $8.88 soon! So far right on schedule.”Â
Check Price Action
Follow us on X, Facebook and Telegram
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/YanaBu
