A popular crypto strategist says that he sees blue skies in the short term for a trio of altcoins including smart contract protocol Solana (SOL) and virtual reality platform Decentraland (MANA).
Pseudonymous analyst Cantering Clark tells his 141,400 Twitter followers that he’s bullish on Ethereum (ETH) competitor Solana, which he says has recently broken its diagonal resistance and successfully retested it as support.
“Still waiting on SOL to rip to the sol.”
According to the crypto strategist, a move above $45 for SOL opens the door for a rally to $60. At time of writing, Solana is changing hands for $42.83.
The next coin that caught the trader’s eye is Decentraland. Cantering Clark says MANA is gearing up to take out its immediate resistance at $1.03.
“New 30-day high coming if we can push just a little more.
Crypto loves a cooked and coiled up breakout trade. If MANA can close through blue, it should be blue skies for a bit.”
Based on the analyst’s chart, a move above $1.03 sets up MANA for a nearly 30% surge to Cantering Clark’s target of $1.33. At time of writing, MANA is swapping hands for $0.98.
The last coin on the trader’s radar is Frax Share (FXS), one of the two tokens on the Frax protocol, a stablecoin system where the cryptocurrency is algorithmically stabilized by collateral reserves. Cantering Clark says FXS has a clean bullish setup after taking out resistance at $6 and flipping it into support.
“The market is looking like it is about to start playing merry go round with alts.
Possibly mini-alt season upon us?
FXS is set up so cleanly. I have been waiting on this now to start running. I think the time is soon.
An easy 2x from here.”
Looking at Cantering Clark’s chart, a 2x move suggests a price target of around $12.64. At time of writing, FXS is trading at $7.36.
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