Pentoshi Is Bullish On REN, Also Predicts New All-Time High For Cosmos (ATOM)

According to a pseudonymous cryptocurrency analyst and trader, known as Pentoshi, one explosive altcoin that nearly doubled its value in 2 weeks, is ready to continue to rally. He also updates Cosmos (ATOM).

The analyst shares with his 285K followers on Twitter that he’s bullish on Ren (REN), a platform that powers transactions between different blockchain platforms. REN is flags bullish signals against both USD and BTC.

“Have been waiting for this pullback a couple of days. Finally got it. Looks incredible market structure-wise.

LTF/HTF (low timeframe/high timeframe) parabola forming. Super clean trend of HH + HLs (higher highs + higher lows). Building momentum. Exactly what you want to see. For now, targeting $1.34 on USD pair.”

13 September, REN jumped from $0.64 to $1.17 on September 27th, marking an 82% surge in just two weeks.

Cosmos (ATOM)

Pentoshi is also looking at Cosmos (ATOM), a project also known as the “internet of blockchains.” The trader says that Cosmos looks strong against Bitcoin (ATOM/BTC) after taking out a crucial resistance area at 0.0008323 BTC, worth $34.61.

“ATOM update:

Waking up. Multi-year breakout confirmed on the retest. Clear skies ahead.”

The analyst believes that ATOM against USD, is ready to move to a new all-time high after retesting the key level at $33 as support.

“Because price discovery is starting, it’s harder to say. But I think ATOM to $68-$70 is a good price target in the coming weeks per [Fibonacci extension].”