Crypto Analyst Says Ethereum-Primarily based Altcoin Will Skyrocket 165%, Eyes on Binance Coin (BNB) and ETH – The Each day Hodl

A popular crypto analyst predicts a massive surge for a little-known altcoin and updates his outlook on Binance Coin (BNB) and Ethereum (ETH).

The pseudonymous trader, known as Crypto Capo, tells his 536,000 Twitter followers that he expects ETH-based Reserve Rights (RSR), which facilitate stablecoin Reserve Token (RSV) stability, to spark a 165% rally .

“I bought some RSR after deviating below the blue value. Mainnet almost done.”

Source: Altcoin Sherpa/Twitter

The trader’s charts show he believes the RSR will rally to $0.017 before plunging to its lowest level in a year. He also mentions the token’s mainnet, which is 99% complete.

RSR is trading for $0.0064 at the time of writing.

The analyst then turns his attention to BNB, the native asset of Binance, the world’s largest crypto exchange by volume. He expects BNB to rally to $297.50, up 10.2% from its current price of $298.98 before also plunging to its July levels.

“The move down from the top of wave A looks three waves, so after the divergence it’s probably a flat pattern. The top of wave C would be 1:1 from A. Target = $297.50.”

Source: Altcoin Sherpa/Twitter

Crypto Capo concludes his analysis by turning his attention to ETH, saying that the leading smart contract platform is bouncing off a key support level and should offer a good risk-reward trade-off for investors.

“Bouncing off key support with some regular bullish divergences. First TP [take profit] is the detail of the H&S [head and shoulders pattern]that offers a good risk premium.”

Source: Altcoin Sherpa/Twitter

ETH is changing hands at $1,272, down 5% on the day.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any risky investments in bitcoin, cryptocurrency or digital assets. Please note that you transfer and trade at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured image: Shutterstock/ValDan22


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