A widely followed cryptocurrency analyst believes that an artificial intelligence (AI) altcoin project is poised to move to the upside.
The analyst known by his nickname The Flow Horse Tells His 199,800 followers on social media platform
OI is a metric that tracks the amount of open long and short positions in crypto assets.
According to the analyst, FET bulls are aggressively taking on the supply coming into the market using leveraged long positions.
“FET could be a good bounce from here. OI is up on seller absorption, high volume to January lows with very skewed supply/ask.”
Looking at its chart, FET is about to flip the $0.56 level to the support level.
FET is trading at $0.566 at the time of writing, up more than 4% in the past 24 hours.
Next, merchant She suggests The Bitcoin (BTC) halving event in April may be more bullish than previous events because BlackRock, the financial giant with about $9 trillion in assets under management (AUM), is likely to market around a spot Bitcoin exchange-traded fund that… Recently launched (ETF).
“This Bitcoin halving is different from anything else, because it is the first time a trillion-dollar asset manager has gone to market.”
Bitcoin is trading at $43,167 at the time of writing, up slightly over the past 24 hours.
Next in the deck, the dealer He says Decentralized oracle provider Chainlink (LINK) appears to remain in an uptrend as the token rises against the $18 resistance level.
“Impressive continuity type move. I think I closed my LINK bag too early.
LINK is trading at $17.83 at the time of writing, down slightly over the past 24 hours.
Finally, the trader turns around rising On the Solana-based Decentralized Exchange (DEX) aggregator Jupiter (JUP).
“Starting to buy a little JUP. Mindshare participation is high and I think the negativity from the airdrop mechanics ends up creating an unbalanced auction. Airdrops are very predictable in the short term…
VWAP (Volume Weighted Average Price) is your friend especially in the newly listed alternatives. The JUP VWAP is already installed on the Catalyst which makes it very useful. No matter what happens in the long run, you know that this will set you up well in the long run soon.
Traders use VWAP to help them determine whether an asset is trading in the overbought or overbought zone based on intraday price action.
Jupiter is trading for $0.579 at the time of writing, down over 3% in the last 24 hours.
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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should conduct due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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