A closely followed crypto trader believes that one decentralized finance altcoin is setting the stage for a huge rally.
Pseudonymous crypto analyst Inmortal tells his 202,300 followers on the social media platform X that Radix (XRD) could soar by more than 51% from its current value.
“Respecting the squiggly perfectly. Breakout plus retest completed. Impulse uploading.”
Looking at his chart, the trader suggests that Radix will soar to the $0.0850 after retesting the $0.0500 level.
Radix is trading for $0.0562 at time of writing, up 10.8% in the last 24 hours.
Next up, the trader is predicting that Solana (SOL) could reclaim $64 after a retest of the $50 level, which has acted as support in the past.
“Those equal lows have been made to be taken. Can we do $50 then $64? Thanks!”
Solana is trading for $59.16 at time of writing, up 1.9% in the last 24 hours.
Lastly, the trader says that Ethereum (ETH) will likely dip lower before a massive move to the upside.
“Your idea is right. Your timing is wrong. ETH will outperform? Yes. But first it will try your patience.”
Looking at his chart, the trader suggests that ETH will decline to around $1,600 before going on a massive rally to the $3,600 level in the first half of next year.
Ethereum is trading for $2,027 at time of writing, down 1.2% in the last 24 hours.
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The post Steep Rally Loading Up for Decentralized Finance (DeFi) Altcoin, According to Crypto Strategist appeared first on The Daily Hodl.