A high crypto strategist and dealer is protecting a detailed watch on a red-hot altcoin that he says is ripe to go parabolic even after doubling its worth in two weeks.
The pseudonymous dealer, recognized within the trade as Pentoshi, tells his 285,000 Twitter followers that he’s bullish on REN, a platform that powers transactions between totally different blockchain platforms. Based on Pentoshi, REN is flashing indicators of energy in each the USD and BTC pairs.
“Have been ready for this pullback a few days. Lastly received it. Appears to be like unimaginable market structure-wise.
LTF/HTF (low timeframe/excessive timeframe) parabola forming. Tremendous clear pattern of HH + HLs (larger highs + larger lows). Constructing momentum. Precisely what you need to see. For now, concentrating on $1.34 on USD pair.”
CoinGecko exhibits that REN ignited an enormous transfer from $0.64 on September thirteenth to $1.17 on September twenty seventh, marking an 82% surge in simply two weeks.
One other coin on the dealer’s radar is Cosmos (ATOM), a challenge dubbed the “web of blockchains.” Based on Pentoshi, Cosmos seems sturdy towards Bitcoin (ATOM/BTC) after taking out an important resistance space at 0.0007 BTC, price $29.54.
Waking up. Multi-year breakout confirmed on the retest. Clear skies forward.”
As for ATOM/USD, Pentoshi believes the pair is now poised to print a brand new all-time excessive after retesting the important thing degree at $33 as assist.
“As a result of value discovery is beginning, it’s more durable to say. However I feel ATOM to $68-$70 is an effective value goal within the coming weeks per [Fibonacci extension].”
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