Pentoshi Predicts Rallies for Ethereum, Polkadot And Two Smaller Altcoins
According to a widely followed, pseudonymous cryptocurrency analyst and trader four crypto assets Ethereum (ETH), Polkadot (DOT) and two smaller altcoins are ready to ignite rallies regardless of the continued correction in the crypto market.
Ethereum (ETH)
The trader known as Pentoshi shares with his 268K followers on Twitter that he sees Ethereum to rally in the coming weeks as the leading smart contract platform continues to trade above support at $3,200. Currently at $3,406 according to CoinMarketCap.
“It’s almost like late sellers are going to be punished and that this is one day, three day, and one week support in a bull market. Nothing bearish about this chart here. Buyers are likely rewarded within 1-2 weeks.”
The analyst is bullish on the interoperable blockchain Polkadot against its Bitcoin pair (DOT/BTC). A fundamental analysis suggests that DOT will drive its value to up against the leading crypto asset, according to Pentoshi.
“Officially Looking for entries now. I should’ve just aped. In my opinion, this is going to absolutely send.
FA (fundamental analysis) wise has parachains which should drive this further in the next 4-6 weeks
Giga send vibes right now. Price discovery soon on BTC pair.”
The key element of Polkadot network is parachains, which can be customized to perform various use cases. According to Polkadot, parachains are on track to be released sometime this year.
Tezos (XTZ)
Pentoshi is also looking into the smart contracts platform Tezos (XTZ), for which predicts over 40% rally as investor interest is growing in layer-1 platforms.
“Price discovery next week on USD pair, rally towards upper resistance on BTC pair.
It’s been the lagging L1 but not any longer. Too much going on over there organically and the volumes show what’s coming this next week
As the 4th crypto asset on the list, the trader covers elastic blockchain network SKALE (SKL). According to Pentoshi SKL is ready to break out against its Bitcoin pair (SKL/BTC) as it continues to consolidate close to resistance at 0.000008 BTC. There are also couple of fundamental catalysts that can drive the value of SKL/BTC higher, the analyst points out.
“Bought some, but more interested in the FA. Gasless NFTs (non-fungible tokens) and scaling coming. The chart looks great though building into a move in my opinion. Swing trade range low to range high. The recent uptrend in my opinion = accumulation into breakout. Timeframe 2-4 weeks.”
