A carefully adopted dealer says that he’s investing in a single Solana-based (SOL) move-to-earn undertaking with the expectation that the token will spark a collection of large rallies.
The pseudonymous crypto dealer generally known as Capo tells his 551,000 Twitter followers that he thinks the crypto markets will choose a course early subsequent month as soon as the Federal Reserve confirms one other rate of interest hike.
Based on Capo, Bitcoin (BTC) will lead a crypto market correction after the Fed pronounces both a 75 or 100 foundation factors rise in charges.
“BTC potential roadmap.”
Capo says that BTC is presently above the $19,000 mark as a result of yesterday’s dip decrease was extra of a deviation than a direct value impulse downward. He says a rally to $21,000 or extra continues to be possible earlier than a dramatic correction to the $14,000 stage.
“Proper now value is again above $19,000 so the transfer beneath this stage is taken into account as a deviation (bullish).
Demand coming in confirms this. There’s gas to maintain going up.
Brief squeeze isn’t over and $21,000 could be very possible. Then I’ll flip full bearish once more and wait for brand spanking new lows.”
Whereas $21,000 is the dealer’s base case, he’s nonetheless staying prepared for a possible break via of that resistance stage to different targets within the mid $20,000s.
“From what I see now, $21,000 ought to act as resistance. It might go to $21,100, $21,200… so long as it doesn’t break that stage on a HTF [higher time frame] shut.
Instance on chart.”
Wanting on the altcoin market, Capo says he simply grabbed a bag of STEPN (GMT), the favored move-to-earn undertaking constructed on the Solana blockchain.
Based on the dealer, GMT is gearing up for a hefty 42% rally from its present value of $0.58 as much as the $0.84 vary.
Primarily based on Capo’s chart, he additionally foresees a subsequent 60% dip from the $0.84 stage all the way in which right down to $0.33 earlier than igniting a robust 248% bull run to the $1.15 space.
“Simply purchased a bag of GMT.”
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