Trader Josh Moden unveils 4 altcoins that are heading to a rally
Prominent crypto trader Josh Moden from CryptoBusy names 4 altcoins under his radar that are primed to make a mooning explosion.
First on the trader list is Enjin (ENJ), a social gaming platform through which users can create websites and clans, chat, and host virtual item stores. At the time of the recording, ENJ was trading at $4.5.
Since hitting a low of $1.19 on September 29, the price of ENJ has blasted 320.5% higher to a high of $4.5. While ENJ is already on its high, Moden suggests there is still a possibility for a perfect entry of around $3.5. A more aggressive level would lie at $3.85.
Besides, the trader also explains the rising strength for ENJ in November as the Enjin ecosystem aims to secure a spot as a Polkadot parachain via the crowdloan auction for its cross-chain metaverse project Efinity.
Next on the list is Utrust (UTK), a solution to the problems resulting in low usability of cryptocurrency as means of payment, particularly the underdeveloped transactional security of payment platforms and relatively high fees. At the time of the recording, UTK was trading at $0.37.
The trader highlights that UTK is currently in the consolidation period. However, the trader adds that UTK next pump would come very soon:
“Ultrust has a habit of having these massive pumps out of nowhere. Maybe when it reaches 40, 50 cents. It’s kind of just a matter of time. Hopefully, before we get another one of those, bringing us up to $r in price. So I think the fact is we’re holding this quite strong, we saw a break of structure here. So in my opinion, I do think we’ll start to move up towards at least 60 cents very very soon.”
Sandbox is the next altcoin on Moden’s list, one of the top metaverse-themed cryptocurrencies. At the press time, SAND was trading at $7.97.
At the four-hour chart, Moden points out that during the last few days the token price experienced the momentum falling when it failed to form a higher high, but bulls stepped in right before SAND could fall and a new rally was formed.
“The 4-hour chart shows that the market structure is bullish. A pattern can be seen where the price rallies, retraces, and rallies again.”
In addition, the trader also suggests two potential buy zone at $5.30 and $6.60.
Last on the list is Decentraland (MANA). At the time of the recording, MANA was trading at $5.3.
According to the trader, the coin had some amazing runs recently. However, there is still some gas left in the tank for a bull run in the upcoming month.
“As you saw on the weekly chart, there is still upside potential. However, on the daily chart, this may take some time, especially after such a pump that the market has seen recently.”
In particular, he suggests two potential buy areas at $4 and $4.5 respectively.
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