A crypto strategist who accurately called the top of Bitcoin’s (BTC) 2021 bull market is expecting another leg up for XRP.
Pseudonymous analyst Pentoshi tells his 706,900 followers on the social media platform X that XRP looks bullish after taking out a key resistance level at $0.548.
[adinserter block="1"]“XRP fans.
A breakout above $0.548 should lead towards $0.62-$0.63.”
At time of writing, XRP is trading for $0.59, up about 3% in the last 24 hours.
The analyst is also updating his forecast on the layer-1 protocol Solana (SOL). According to Pentoshi, the bulls are already celebrating SOL’s big rallies as of late which tells him that the crypto asset may be close to witnessing a pullback.
“The timeline is getting a little loud on this one. Probably local top soonish, in the purple box.”
Looking at the trader’s chart, he seems to predict that SOL will likely meet resistance at $38.70. At time of writing, SOL is worth $38.59.
Another altcoin on the analyst’s radar is the governance token of the Ethereum (ETH)-based decentralized finance lending protocol Aave (AAVE). According to Pentoshi, AAVE will see a big breakout rally if it manages to breach resistance at $90.
“This one likely consolidates a bit more. A break above $90 likely brings $112-$115. For now, it’s under resistance that opens that up.”
At time of writing, AAVE is trading at $81.81.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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.
Generated Image: Midjourney
