Top Crypto Strategist Predicts Violent Rallies for Decentraland, ApeCoin and One Additional Altcoin


A closely watched cryptocurrency trader says that Decentraland (MANNA), ApeCoin (BUN) and Frax Share (fxs) are setting the stage for big rallies.

The pseudonymous merchant Cantering Clark He says Its 156,700 Twitter followers that metaverse protocol Decentraland is showing a bit of a bearish squeeze, indicating a bigger upside.

“GameFi and metaverse pumping. If I had to guess, MANA has the potential to get even more violent to the upside given that OI [Open Interest] it’s almost double what it normally was, before a bunch of Barry-related shorts and hedges were tagged. This squeeze has more fuel.”

Source: CanteringClark/Twitter

A short squeeze occurs when traders who borrow units of an asset at a certain price in the hope of selling them at a lower price to pocket the difference are forced to buy assets back as the trade moves against of his bias.

At time of writing, MANA is valued at $0.41, up more than 38% from its low this month of $0.295.

Looking at APE, Cantering Clark He says The native community token Bored Ape Yacht Club is likely to continue on the up after removing its immediate resistance.

“It’s setting up a close of $4.30 for the weekly right now with only 30 minutes left. If the metaverse and GameFi are going to keep pumping, APE catches the wind in their sails.”

Picture
Source: CanteringClark/Twitter

APE is valued at $4.52 at the time of writing. A move towards the analyst target of $7.20 suggests almost 60% upside potential for APE.

lastly he He says FXS, the governance token for the Frax stablecoin protocol, seems to be building a solid bottom and could be setting up for a breakout.

“I see FXS picking up a bid again, and this three-day chart has a granite bottom. I bet on this break and I position myself accordingly.

Picture
Source: CanteringClark/Twitter

At the time of writing, FXS is changing hands at $5.53.

Don’t miss the beat Subscribe to receive crypto alerts via email directly to your inbox

Check price action

follow us Twitter, Facebook Y Telegram

Sail Hodl’s Daily Mix

Check the latest news headlines

&nbsp

Get Alerts

Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investment in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are at your own risk, and any loss you may incur is your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, and The Daily Hodl is not an investment adviser. Please note that The Daily Hodl is involved in affiliate marketing.

Generated Image: Half the Journey