One cryptocurrency strategist believes that one of the altcoins flying under the radar is poised for a major hacking boom.
The analyst with the pseudonym The Crypto Dog tells his 755,600 followers on social media platform formation Huge bullish pattern on the weekly chart.
According to the cryptocurrency strategist, GMX could see a roughly 90% upside if it crosses the immediate resistance at $56.26.
“GMX is drawing a huge inverse head and shoulders for several months… The benchmark gives a target of $106 for GMX.”
At the time of writing, GMX is trading at $56.56, just above trader resistance.
In addition to GMX, there is also The Crypto Dog rising On the smart contract platform Near (NEAR) and DEX Injective (INJ).
“I would like to see $7+ on NEAR, around $50 on $INJ and $62-70 on GMX.
Re-evaluation will take place in a timely manner if necessary.
He may not be able to hold NEAR and INJ at all. Not sure if we'll form from here or not, but the entries look good.
The GMX seems pretty solid though.
Looking closely at NEAR, the analyst believes it is poised for a continuation of the uptrend after retesting the support level at $3.60.
“Yes that sounds like a continuation.”
At the time of writing, NEAR is valued at $3.74 while INJ is trading at $36.04.
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