Top Trader Predicts Massive Rallies for Under-the-Radar Altcoin Amid Crypto Correction – Here Are His Targets

An analyst who nailed the tip of Bitcoin’s (BTC) 2021 bull market thinks that one low-cap altcoin might ignite rallies amid a flurry of bullish catalysts.

Pseudonymous analyst Pentoshi tells his 674,900 Twitter followers that he’s accumulating Synapse (SYN), a protocol that goals to allow safe cross-chain communication.

Based on Pentoshi, the undertaking will seemingly witness bullish occasions that would catapult SYN towards his targets.

“Earlier than I’m going to mattress. Thought I’d share how I’m seeking to play it. Most vital ranges marked technical analysis-wise. Fundmental analysis-wise: I imagine three or so catalysts will come within the subsequent one to 6 weeks to propel it revolving round Synchain/DApps.”

Supply: Pentoshi/Twitter

Synchain is a undertaking that bills itself as a next-generation blockchain that goals to resolve the problems scalability and safety. In the intervening time, there’s no clear announcement suggesting {that a} partnership is brewing betwen Synapse and Synchain.

Pentoshi’s chart, he seems to have set a number of targets for SYN from $1.47 all the best way as much as $3.75. The crypto analyst additionally says that he positioned bids between $1.20 and $1.25 in case of a corrective transfer.

At time of writing, SYN is buying and selling at $1.33, up over 4% on the day.

Bitcoin, the crypto strategist sees BTC falling to round $21,200.

“BTC present vary.”

Supply: Pentoshi/Twitter

At time of writing, Bitcoin is price $21,800, a fractional dip on the day.

As for the broader crypto market, Pentoshi warns that crypto might witness a troublesome 2023 as regulators crack down on the nascent business.

“Clearly that is going to be a tough yr from a regulatory standpoint, as we’ve seen this week. All of this too shall cross. Bullish on the frogs [crypto market participants] overcoming the fits, and animal spirits successful ultimately.”

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Featured Picture: Shutterstock/Moksha Labs/Natalia Siiatovskaia

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