Three altcoins that have been little talked about lately are getting a lot of attention from a well-known analyst. Indeed, Cantering Clark recently spoke about the coming trend in the ApeCoin, Decentraland and Frax Share markets. Here is what it predicts for each of the three cryptocurrencies.
Stormy rally for ApeCoin (APE)!
In his recent tweets, crypto strategist Cantering Clark talked about three altcoins. In particular, he predicted the upcoming trend in the ApeCoin (APE) market. This is the utility token of the Otherside game metaverse from Yuga Labs. The crypto strategist indicated in a tweet that this digital asset will continue to rise in an uptrend. But before that, he expects the token to overcome its immediate resistance.
He explained, “Crypto is closing at $4.30 for the weekly right now with only 30 minutes left. If the metaverse and GameFi continue to grow, APE will raise its sails.” The analyst suggested that the Bored Ape Yacht Club community token could rise by 60%. ApeCoin (APE) is currently trading at around $4.9, up over 17% in the last seven days.
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The Potential of the Decentraland Protocol
Cantering Clark seems to be convinced that Decentraland’s native protocol token has potential. The cryptocurrency will set the stage for a short bearish squeeze, but also a significant upside.
Clarke stated, “If I had to guess, MANA has the potential to get even more brutal in terms of growth, with open interest nearly double its usual size before a plethora of Barry-related shorts and covers are flagged.”
Towards a notable breakthrough for Frax Share (FXS)
FXS, the governing token of the Frax stablecoin protocol, is currently trading at around $5.50. According to Cantering Clark, we may soon see a breakthrough in the market for this cryptocurrency.
The crypto strategist also claimed that the FXS token appears to be building a solid bottom. “I see FXS catching new supply and this 3-day chart has a granite bottom. I’m betting on that gap and positioning myself accordingly,” Clark countered. Pending confirmation of Clarke’s predictions, it should be noted that the metaverse sector is developing well. There are some exciting new projects, such as LG, which wants to make the metaverse available to smart TVs.
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The failed cryptocurrency investment in 2017 not only did not dampen my enthusiasm, but only increased my enthusiasm. Therefore, I decided to study and understand the blockchain and its many applications, as well as pass on information regarding this ecosystem with my pen.