A popular crypto trader says metaverse-focused token Decentraland ($MANA) and two other altcoins are gearing up for a burst to the upside.
Pseudonymous analyst Cantering Clark tells his 160,400 Twitter followers that $MANA may be following in the footsteps of Filecoin (FIL), a peer-to-peer decentralized storage network that erupted over 62% last week.
“There are still some alts that are holding key levels that I wouldn’t write off just yet, $MANA being one of them.”
At time of writing, $MANA, an Ethereum (ETH)-based altcoin, is trading for $0.717, down almost 2% on the day.
Next up, the crypto strategist says he’s accumulating Hooked Protocol (HOOK), a gamified social learning platform that aims to accelerate web3 adoption. According to Cantering Clark, HOOK could be setting up for a rally toward its recent high at around $4.
“Added more to HOOK here.
Return to the high at a minimum seems reasonable.
-New coin
-No blow off yet that normally leads to re-accumulation for new pairs.
-Technicals look good.”
At time of writing, HOOK is worth $2.86, hovering above Clark’s short-term support.
Another altcoin on the trader’s list is $DYDX, the governance token of the decentralized exchange dYdX. Cantering Clark says $DYDX still looks bullish as it continues to trade above the multi-month resistance at around $2.74.
“$DYDX still is holding the topside of a nine-month range, and while chop can be aggressive and painful, I think this still has some gas in it.”
At time of writing, $DYDX is trading for $2.99, down over 4% on the day.
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