A well-liked crypto analyst is remaining bullish on one red-hot altcoin that greater than doubled in worth inside just a few weeks.
Pseudonymous dealer Altcoin Sherpa tells his 197,900 followers on the social media platform X that the gaming studio and NFT (non-fungible token) market platform Vulcan Solid (PYR) has extra room to run.
The dealer says that PYR will possible stay in an uptrend after instantly leaping out of a long-term buying and selling vary, much like what the decentralized oracle supplier Chainlink (LINK) has completed.
“PYR: this chart jogs my memory a number of the LINK chart to be trustworthy. Escaping the vary that it’s been in for over a 12 months, appears fairly sturdy.”
PYR was buying and selling at $2.76 on October nineteenth and reached a Thursday excessive of $6.39 at time of writing, a greater than 131% enhance. PYR has retraced to $5.86 at time of writing.
Subsequent, the dealer says he stays bullish on Chainlink, noting how the worth stays above key exponential shifting averages (EMAs) on the weekly chart.
He predicts LINK will ultimately hit the $20 stage, a virtually 36% enhance from its present worth.
“LINK goes to $20 and there’s nothing you are able to do about it. EMAs all bullish on the one-week [chart] and this one chopped for 500 days earlier than exploding.”
his chart, the dealer suggests the subsequent key resistance stage to the upside is at $18.80.
LINK is buying and selling for $14.73 at time of writing, up 5.6% within the final 24 hours.
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