A popular crypto trader says metaverse-focused token Decentraland (MANA) and two other altcoins are gearing up for a burst to the upside.
Pseudonymous analyst Cantering Clark tells his 160,400 Twitter followers that MANA may be following in the footsteps of Filecoin (FIL), a peer-to-peer decentralized storage network that erupted over 62% last week.
“There are still some alts that are holding key levels that I wouldn’t write off just yet, MANA being one of them.”
At time of writing, MANA, an Ethereum (ETH)-based altcoin, is trading for $0.717, down almost 2% on the day.
Next up, the crypto strategist says he’s accumulating Hooked Protocol (HOOK), a gamified social learning platform that aims to accelerate web3 adoption. According to Cantering Clark, HOOK could be setting up for a rally toward its recent high at around $4.
“Added more to HOOK here.
Return to the high at a minimum seems reasonable.
-New coin
-No blow off yet that normally leads to re-accumulation for new pairs.
-Technicals look good.”
At time of writing, HOOK is worth $2.86, hovering above Clark’s short-term support.
Another altcoin on the trader’s list is DYDX, the governance token of the decentralized exchange dYdX. Cantering Clark says DYDX still looks bullish as it continues to trade above the multi-month resistance at around $2.74.
“DYDX still is holding the topside of a nine-month range, and while chop can be aggressive and painful, I think this still has some gas in it.”
At time of writing, DYDX is trading for $2.99, down over 4% on the day.
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