After a major sell-off day after, the crypto market has climbed back up as most tokens are trading in green now. While BTC is back above $61K, ETH and BNB are up 5.3 and 8% respectively. The outperformer Shiba Inu has stunted the rally.
Pentoshi, a well-known crypto analyst, expects Cosmos (ATOM), Bitcoin (BTC), and one low-cap DeFi cryptocurrency to rally.
The crypto expert informs his Twitter followers that Cosmos (ATOM), a smart contract platform, appears to be poised to outperform the crypto market in the next few weeks.
Pentoshi expects ATOM to appreciate 100 percent against its Bitcoin pairing (ATOM/BTC) to 0.00129 BTC ($76.14) as the token finds support around 0.0006 BTC ($35.42).
“ATOM [in my opinion] going to be one of the best if not the best performers in the next few weeks”
He says that the chart is set up for a major move up and contains all of the necessary ingredients, with [technical analysis] and [fundamental analysis] aligned.
At the time of writing, ATOM has risen from a 24 hour low of $38.5 to $40.53. it is currently up by 3.6% in the last 24 hours.
Woo Network (WOO)
WOO Network (WOO), a deep liquidity network connecting traders, exchanges, institutions, and decentralized finance (DeFi) platforms, is Pentoshi’s second cryptocurrency pick.
WOO is a comfy hold for Pentoshi, with fresh all-time highs (ATHs) on the horizon, with the crypto asset presently trading at $1.23, under the resistance of its previous all-time high.
“Glory awaits, have never once sold a token. Another one that I feel comfortable with. Some things I trade, some things I hold. So far so good! Hoping they continue to grow at this speed”
At the time of writing, WOO is trading at $1.23 up by 0.8% in the last 24 hours. It has fallen from a 24 hour high of $1.29.
In terms of Bitcoin, he says the top cryptocurrency is exhibiting signs of strength after perfectly retesting a major Fibonacci level around $59,985.
He explains that BTC Price produced a great retest at a shallow [Fibonacci] level on a 10% decline after breaking ATHs, and it appears to be set up for sustained price discovery.