A widely followed cryptocurrency trader says a top-quality altcoin may be poised to rise.
The analyst, pseudonymously known as Bluntz tells According to its 305,200 followers on social media platform
“These bottom structures are definitely one of my favorites to trade; BTC 2019 bottom for reference.”
He say that LINK may be forming a bullish Adam and Eve pattern, which indicates that an asset is in danger of losing its horizontal resistance after reaching a bottom.
“Beautiful soil structures are forming across the board now that the dust has settled. Perfect Adam and Eve soil structure on LINK here with a horizontal breakout too.
LINK is trading at $24.44 at the time of writing, down 4.7% in the last 24 hours.
Bluntz recently said that the decentralized finance (DeFi) industry has been “de-risked” following news that the crypto project linked to newly elected US President Donald Trump has amassed tokens like LINK.
said Bluntz,
“The President is collecting DeFi coins and creating his own DeFi company. I think it is safe to assume that DeFi is now out of risk and will happen again in 2021.”
Crypto intelligence platform Arkham recently reported that Trump’s World Liberty Financial (WLFI) platform has purchased $50 million worth of DeFi coins, including Chainlink, Ethereum (ETH), and Aave (AAVE).
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Credit : dailyhodl.com
