A prominent crypto strategist and trader is predicting new all-time highs for two low-cap altcoins as he outlines the potential paths ahead for Cardano, Polkadot and Chainlink.
The pseudonymous crypto analyst known as Capo tells his 138,200 Twitter followers that he’s keeping a close watch on the price action of Phala Network (PHA), a privacy-preserving protocol for cloud computing services.
According to Capo, Phala could be gearing up for a 65% rally against Bitcoin (PHA/BTC) from its current value of 0.00023 to a fresh all-time high of 0.000038.
“PHA/BTC It looks bullish af. Parachain is coming.”
Another coin on the trader’s list is the blockchain-based gaming ecosystem The Sandbox. Capo predicts that The Sandbox is poised to launch a rally to a new all-time high of 0.00004 against Bitcoin (SAND/BTC).
Given the pair’s current price of 0.000013, Capo’s target price represents a potential increase of over 207%.
About to make a new [all-time high]. Setup is playing out perfectly, and it’s leading the altcoin market.”
The third coin on Capo’s watchlist is interoperability chain Polkadot, which Capo says must flip 0.00055 resistance into support for bullish confirmation.
Not looking bullish yet. I will wait for bullish signs.”
The crypto trader is also eyeing the movements of decentralized oracle network Chainlink against Bitcoin (LINK/BTC). According to Capo, he expects the pair to touch support at 0.00034 before kicking off the next leg of its bull-market phase and rallying close to its all-time high of 0.00169.
Expecting a last wave down to sweep the previous low. If it deviates below that level and then reclaims it, it would be a good buy opportunity.”
Capo says he’s also bullish on Cardano (ADA).
He sees ADA climbing against BTC for the remainder of the year, with an all-time high likely in late December.
“I repeat: not the time to be bearish on ADA.”
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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.
Featured Image: Shutterstock/Aiolhoz