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.
[adinserter block="1"]“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.”
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.”
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Featured Image: Shutterstock/YanaBu
