A widely followed analyst thinks that massive gains are ahead for a new decentralized finance (DeFi) altcoin.
Pseudonymous analyst Inmortal tells his 209,300 followers on the social media platform X that the governance token of the Solana (SOL)-based decentralized exchange aggregator Jupiter (JUP) looks primed for a parabolic surge.
Inmortal shares a chart suggesting that JUP will rally to a new all-time high of $2.30, an increase of more than 207% from current levels.
At time of writing, JUP is trading for $0.747.
Next up, the trader is keeping a close watch on the decentralized oracle network Chainlink (LINK). Inmortal says he expects LINK to consolidate for a couple of weeks before moving higher.
“Range high + moving average 200 [retest]. One to two weeks more of chop between $17-$21 then another leg up, in my opinion.”
At time of writing, LINK is worth $20.01.
Another coin on the trader’s radar is Constellation (DAG), a cryptocurrency platform built on a Directed Acyclic Graph (DAG) structure. According to Inmortal, DAG is in a position to witness an uptrend after ending an extended accumulation period.
“Love the DAG chart.
A +500 days accumulation is over and ready to expand in the next months.
You don’t see this every day.”
Looking at the trader’s chart, he appears to have marked $0.10, $0.20 and $0.46 as key resistance levels for DAG. At time of writing, DAG is worth $0.076.
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The post Analyst Predicts Over 200% Rally for DeFi Altcoin, Updates Forecast on Chainlink and One Additional Coin appeared first on The Daily Hodl.
