A widely followed crypto trader says two prime setups have formed on two low-cap altcoin projects.
Pseudonymous analyst and trader Altcoin Sherpa tells his 196,000 followers on the social media platform X that he’s watching decentralized finance (DeFi) lending platform Venus (XVS), and proof-of-work cryptocurrency Flux.
Altcoin Sherpa says both coins have consolidated in prime areas right on resistance near the 200 4-hour exponential moving average (EMA), before blowing past their key levels.
“Look at these two trade setups with XVS and FLUX
-consolidation right near resistance-right near the 200 EMA on the 4h-Rounded bottom
EXPLOSIVE move through resistance.”
XVS is trading at $4.39 at time of writing, with a $67.9 million market cap, while FLUX is priced at $0.39 with a $100 million market cap.
Altcoin Sherpa is also looking at COTI, a DAG (directed acyclic graph) protocol optimized for creating decentralized payment networks and stablecoins.
The trader says that he’s already long on COTI, and is looking to get out at $0.0469 and $0.0507 levels
“COTI: Trade I’m in from lower…
Will take profit all the way up”
At time of writing, COTI is trading for $0.0426, sideways in the last 24 hours.
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Featured Image: Shutterstock/Kartavaya Olya/Sensvector
