dailyhodl.com
A widely followed analyst and trader is expressing bullish sentiment on a multi-million dollar altcoin as the total crypto market cap edges toward $1.5 trillion.
The analyst pseudonymously known as The Flow Horse tells his 185,800 followers on the X social media platform that blockchain-based artificial intelligence (AI) and machine learning platform Fetch.ai ($FET) could appreciate by around 130% from the current level.
“I think $FET is one of the better looking charts right now.
Clear $0.45 and this thing has $1 written all over it, especially as a pair that is connected to AI, which is more than just a narrative.”
$FET is trading at $0.434 at time of writing, up by slightly over 100% over the past month.
Turning to Bitcoin (BTC), the pseudonymous trader says that the flagship crypto asset is likely to turn bearish if it does not overcome the $38,000 resistance level convincingly. According to The Flow Horse, Bitcoin is potentially forming a “brief double top”. A double top is a pattern that signals that the price of an asset is about to reverse to the downside.
The pseudonymous trader next analyzes Ordinals ($ORDI), a technology that enables the creation of digital collectibles on the Bitcoin network. The Flow Horse says that $ORDI is showing signs of continuing its bullish momentum.
“This looks like it is going to put in another leg up.
$ORDI is remaining lifted and is a new pair breaking out of what is its first consolidation with no flashing warning signs of overheating.”
$ORDI is trading at $25.79 at time of writing, up by around 380% over the past two weeks.
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