A widely followed crypto strategist believes that one of Ethereum (ETH)’s competitors is poised to witness a breakout rally.
Pseudonymous analyst The Crypto Dog tells his 775,100 followers on social media platform X that he is bullish on smart contract protocol NEAR (NEAR).
The analyst shared a chart suggesting that NEAR is at risk of breaking the diagonal resistance on the daily chart.
“NEAR will be moving soon. Maybe not today, but in the near future.
BTC flat, SOL red, and NEAR green will attract attention. ”
Although NEAR is still struggling to break above diagonal resistance, analysts say it is only a matter of time before NEAR breaks out and rises to around $9.
“Okay, don’t worry, it’s going exactly as we originally expected.
But stay tuned to NEAR. This should retest the highs we achieved and push them up in time. ”
At the time of writing, NEAR is worth $7.06.
Next, the trader said he is closely monitoring Layer 1 altcoin Injective (INJ). According to the analyst, the altcoin is starting to become interesting again after INJ bulls defended the $30 price range.
“INJ It might become interesting again after a long time. ”
At the time of writing, INJ is trading at $34.85, up nearly 2% over the past day.
Regarding the broader cryptocurrency market, analysts say: think The latest fix is said to be designed to wipe out weak hands.
“I may be optimistic, but the last few days have felt like a shakeout. Default is bullish in this market until something happens that shakes up the status quo in a big way. We should get solid direction over the next seven days. is”
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