A closely followed crypto strategist thinks that one Ethereum (ETH)-based altcoin is about to soar against Bitcoin (BTC).
Pseudonymous analyst The Crypto Dog tells his 750,500 followers on the social media platform X that the decentralized exchange protocol Injective (INJ) is looking bullish on the INJ/BTC trading pair chart.
“Incredibly bullish structure.”
Source: The Crypto Dog/X
Looking at his chart, the trader suggests that INJ/BTC could soon flip a key resistance level into support, after failing to do so on two prior attempts in recent days.
On October 16th INJ/BTC closed at 0.0002737 BTC ($7.80) and is now at 0.0009446 BTC ($40.75), a gain of approximately 245%.
The trader also says that Injective looks like it is on the verge of a breakout after a period of consolidation in the high $30s and low $40s range.
“INJ looks like another winner to come this week. Been consolidating here longer than expected, but it’s been just a matter of time.”
Source: The Crypto Dog/X
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