Crypto money analyst Pentoshi says that a new wave of rise in the Altcoin market can begin. The analyst closely follows the Others index, which measures the performance of subcoins other than Bitcoin and Ethereum. The Others index seems to have created a bottom of $ 250 billion. If the index exceeds the resistance point of $ 281 billion, the rise is expected to accelerate.
Others Index and Altcoin Market
The Others Index, which determines the general trend of the crypto currency market, has recently found strong support at $ 250 billion. According to Pentoshi, this level creates a critical base and strengthens the possibility of a double foot formation. If the index exceeds the resistance level of $ 281 billion, the upward movement is expected to accelerate.
Pentoshi consider that the level of $ 320 billion is potential low peak and the possibility of the market to reach this level. The index, which is currently at the level of 271.63 billion dollars, is approaching the resistance point. According to technical analysis, investors need to follow these levels carefully.
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Injective (Inj) and other subcoins
Pentoshi focuses on Injective (Inj) among the subcoins. Inj continues to adhere to the long -term support point of $ 14. Analyst says that he expects an increase up to $ 17,58 by taking power from this level.
According to the current data, INJ is currently trading at $ 15.26. If a 16 -dollar psychological threshold is overcome, it seems possible that a stronger movement will be experienced. Technical indicators show that Inj can maintain the upward acceleration.
According to Analyst Pentoshi, the overall appearance in the Altcoin market began to return to positive. The preservation of significant levels in the market is critical for the continuation of the rise. In particular, it is emphasized that the main support of $ 250 billion and resistance points of $ 320 billion will play a key role in determining market movements.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
