Altcoins
This Altcoin Expected to Reach All-Time High in January 2024
In a captivating turn of events, a trader renowned for accurately describing the 2018 Bitcoin market bottom is now paving the way for new all-time highs in the decentralized exchange (DEX). Pseudonymous analyst Bluntz, who has a large following on social media platform X, shared his thoughts on a potential rally for Injective (INJ) after a bullish divergence caught his eye on the four-hour chart.
Decoding the Signals: INJ Price Analysis
Bluntz, the veteran analyst, pointed to a bullish divergence on the four-hour chart of INJ, a decentralized exchange altcoin. Bullish divergence often serves as an indicator signaling the conclusion of a corrective move. With this keen eye for market nuances, Bluntz suggests that INJ could be gearing up for a remarkable rise, aiming for an all-time high of $47. The current market price of INJ stands at 37.76.
Layer 1 crypto projects trigger the next step
Expanding the scope beyond INJ, Bluntz is closely monitoring the price action of four layer 1 crypto projects: SOL, AVAX, SEI, and SUI. According to his analysis, these projects appear to be heating up again, indicating potential upward movements for their native assets.
SUI: a gem in the making
Looking closely at SUI, Bluntz predicts a significant rise of over 28% from its current price. He sees SUI as a promising next-stage contender, projecting a target price of $1 and beyond. Currently, SUI price is at $0.7811, which Bluntz considers a favorable decline for long positions.
As crypto enthusiasts and traders eagerly await market dynamics to unfold, Bluntz’s ideas have sparked anticipation, especially for INJ and SUI.