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.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxFeatured Image: Shutterstock/Sensvector/Philipp Tur