In a captivating turn of events, a trader renowned for accurately calling Bitcoin’s 2018 market bottom is now setting the stage for fresh all-time highs in the decentralized exchange (DEX). Pseudonymous analyst Bluntz, with a significant following on the social media platform X, has shared insights on a potential rally for Injective (INJ) after a bullish divergence caught his attention on the four-hour chart.
Decoding the Signals: INJ Price Analysis
Bluntz, the seasoned analyst, has pointed to a bullish divergence on the four-hour chart of INJ, a decentralized exchange altcoin. Bullish divergence often serves as an indicator signaling the conclusion of a corrective move. With this keen eye for market nuances, Bluntz suggests that INJ might be gearing up for a remarkable surge, eyeing an all-time high of $47. The current market price of INJ stands at 37.76.
Layer-1 Crypto Projects Igniting the Next Leg Up
Expanding the scope beyond INJ, Bluntz is closely monitoring the price action of four layer-1 crypto projects – SOL, AVAX, SEI, and SUI. According to his analysis, these projects seem to be heating up again, indicating potential upward movements for their native assets.
SUI: A Gem in the Making
Looking closely at SUI, Bluntz predicts a significant surge of over 28% for its current price. He sees SUI as a promising contender for the next leg up, projecting a target price of $1 and beyond. Currently, SUI is priced at $0.7811, which Bluntz considers a favorable dip for long positions.
As crypto enthusiasts and traders eagerly await the unfolding of market dynamics, Bluntz’s insights have sparked anticipation, particularly for INJ and SUI.
Zameer Attar
Zameer is a financial analyst and writer with a particular interest in cryptocurrency markets. He has been studying cryptocurrencies and their market behavior for several years and deeply understands the factors that affect the price of cryptocurrencies. His expertise lies in his ability to use both technical and fundamental analysis to make informed predictions about the future direction of cryptocurrency prices. He has a strong understanding of market sentiment and uses this to inform his trading decisions and price predictions.
>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Coinpedia – https://coinpedia.org/price-analysis/this-altcoin-is-set-to-hit-all-time-high-in-jan-2024/