A trader who accurately called Bitcoin’s (BTC) 2018 market bottom is predicting fresh all-time highs for one decentralized exchange (DEX) altcoin.
Pseudonymous analyst Bluntz tells his 234,000 followers on the social media platform X that a bullish divergence just flashed on the four-hour chart of Injective (INJ).
Traders often keep a close eye on bullish divergences as they may signal the end of a corrective move.
Bluntz shares a chart suggesting INJ may be setting up to rally to an all-time high of $47.
“INJ has been something I’ve been trying to get in on for a while but it just kept going up.
It finally had an almost 25% dip and got a nice four-hour confirmed bull divergence here.”
At time of writing, INJ is trading for $36.30, down over 2% in the past day.
Bluntz is also following the price action of four layer-1 crypto projects and thinks that their native assets are primed to ignite the next leg up.
“All the layer-1s look like they’re heating up again.
SOL, AVAX, SEI, SUI.”
Looking closer at Sui (SUI), the analyst predicts that the altcoin could surge over 28% from current prices.
“SUI prepping for the next leg up to $1 and beyond, this is a good dip to long in my opinion.”
At time of writing, SUI is worth $0.78.
Follow us on X, Facebook and TelegramDon'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/Sensvector/Philipp Tur
