A widely followed analyst thinks that massive gains are ahead for a new decentralized finance (DeFi) altcoin.
Pseudonymous analyst Inmortal tells his 209,300 followers on the social media platform X that the governance token of the Solana (SOL)-based decentralized exchange aggregator Jupiter (JUP) looks primed for a parabolic surge.
Inmortal shares a chart suggesting that JUP will rally to a new all-time high of $2.30, an increase of more than 207% from current levels.
At time of writing, JUP is trading for $0.747.
Next up, the trader is keeping a close watch on the decentralized oracle network Chainlink (LINK). Inmortal says he expects LINK to consolidate for a couple of weeks before moving higher.
“Range high + moving average 200 [retest]. One to two weeks more of chop between $17-$21 then another leg up, in my opinion.”
At time of writing, LINK is worth $20.01.
Another coin on the trader’s radar is Constellation (DAG), a cryptocurrency platform built on a Directed Acyclic Graph (DAG) structure. According to Inmortal, DAG is in a position to witness an uptrend after ending an extended accumulation period.
“Love the DAG chart.
A +500 days accumulation is over and ready to expand in the next months.
You don’t see this every day.”
Looking at the trader’s chart, he appears to have marked $0.10, $0.20 and $0.46 as key resistance levels for DAG. At time of writing, DAG is worth $0.076.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
The post Analyst Predicts Over 200% Rally for DeFi Altcoin, Updates Forecast on Chainlink and One Additional Coin appeared first on The Daily Hodl.