A widely followed crypto analyst is predicting a massive surge for a little-known altcoin and is updating his outlook on Binance Coin (BNB) and Ethereum (ETH).
The pseudonymous trader known as Crypto Capo says His 536,000 Twitter followers expect ETH-based Reserve Rights (RSR), which facilitates the stability of Stablecoin Reserve Token (RSV), to lead to a 165% rally.
“Bought some RSRs after divergence below the blue level. Mainnet is almost done.”
The trader’s chart indicates that he believes the RSR will rise to $0.017 before falling to its lowest level in over a year. He too is mentioned Token’s mainnet, which is 99% complete.
At the time of writing, the RSR is moving towards $0.0064.
The analyst turned his attention to BNB, the native asset of the world’s largest crypto exchange platform, Binance. He says Hope BNB will rise to $297.50, up 10.2% from its current price of $298.98, before falling to July levels.
“Move down from the top of wave A 3 looks wavy, so after divergence it is probably a flat pattern. The top of wave C will be 1:1 of A. Target = $297.50.
crypto capo have concluded Their analysis by its focus on ETH, adding that the leading smart contract platform is bouncing off a key support level and should provide a good risk-to-reward ratio for investors.
“Bouncing off key support with some regular bullish divergence. First TP. [take profit] H&S has a neckline [head and shoulders pattern]offering a good risk reward.”
ETH is changing hands at $1,272, down 5% on the day.
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