dailyhodl.com
A crypto strategist believes that one altcoin that’s flying under the radar is gearing up for a big breakout surge.
Pseudonymous analyst The Crypto Dog tells his 755,600 followers on the social media platform X that the native asset of the decentralized exchange (DEX) $GMX ($GMX) is forming a huge bullish pattern on the weekly chart.
According to the crypto strategist, $GMX could witness a nearly 90% rally if it takes out its immediate resistance at $56.26.
“$GMX painting a massive multimonth inverse head and shoulders… Measure rule gives a target of $106 for $GMX.”
At time of writing, $GMX is trading for $56.56, slightly above the trader’s resistance level.
In addition to $GMX, The Crypto Dog is also bullish on the smart contract platform Near ($NEAR) and the DEX Injective ($INJ).
“I’d like to see $7+ on $NEAR, ~$50 on $INJ and $62-70 on $GMX.
Will reevaluate in time if needed.
Might not be able to hold $NEAR and $INJ at all. Not sure if we shape up from here or not, but the entries looked good.
$GMX looks very strong though.”
Looking closer at $NEAR, the analyst thinks that it is primed for bullish continuation after retesting $3.60 as support.
“Ye this looks like continuation.”
At time of writing, $NEAR is worth $3.74 while $INJ is trading for $36.04.
Generated Image: Midjourney