An analyst who nailed the top of Bitcoin’s (BTC) 2021 bull market thinks that altcoins are setting the stage for an explosive rally.
Pseudonymous analyst Pentoshi tells his 705,600 followers on the social media platform X that some alts could soar for as long as six weeks.
“I do think we get a mini alt season, three to six weeks in duration or so in the near term. But as always, that’s my opinion and I can and will be wrong. Have seen a ton of signs and will make a thread on why to back it up.”
The trader also updates his outlook for a number of altcoins, starting with decentralized derivatives exchange Injective (INJ).
“I couldn’t justify buying it here. Too close to a historically strong resistance. Would either wait for a lower purple box, or a clean reclaim above. Diddle in the middle is a great way to get rekt, but for those already in good job and congrats.”
INJ is trading for $12.12 at time of writing.
“RLB: I don’t own any currently. Honestly would wait for new highs to get in so not touching it for now.”
RLB is worth $0.18 at time of writing.
“MATIC: This looks okay, it had a nice reclaim as well. Great shot at heading up to $0.74 area in the short term.”
MATIC is trading for $0.63 at time of writing.
“FET: Think this looks great on all time frames, reclaim of a key spot that has acted as resistance and would love to get some bids closer to the bottom white line but started a starter bag.”
FET is trading for $0.29 at time of writing.
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