Digital Currency Analyzer: Three tokens ready to jump

After bitcoin rose again from $ 40,000, a market analyst commented on the possibility of a jump of three coins. He also spoke about the impact that short-term futures traders have on the uptrend of bitcoin.

According to the Daily Hoodel, a digital currency market analyst recently spoke about his forecasts for the long-term goals of Solana, Atrium’s main competitor, as well as the possibility of a jump for Avalanche and Terra.

An analyst called Inmortal tweeted to his 152,100 followers that he expects the price of Luna, Terra’s own token, to rise to three-digit numbers after supporting about $ 80. “By the time you close your eyes, Luna will be $ 100,” he said.

Luna price chart for 12 hours.
Luna price chart for 12 hours.

At the time of writing, Luna is trading at $ 94.88.

In addition, Inmortal’s view of Olench’s rival Atrium’s Smart Contract Protocol tokens is bullish. He said Olench was probably following Luna’s path. Olench is currently trading at around $ 79.73.

Comparison of Olench and Luna charts in 4-hour view.
Comparison of Olench and Luna charts in 4-hour view.

The analyst also made a strange forecast for Solana, believing that this digital currency has the potential to grow by more than 830% of its current price of $ 110.

He said:

It may be time to buy Solana for less than $ 100 now and sell it in the future for more than $ 1,000.

He also said he expects bitcoin to begin its uptrend this week after returning more than $ 40,000.

According to Inmortal:

If bitcoin can return earlier in the week, my plan is to open a long trading position in this digital currency; But if he can’t regain that level, I’ll be in the shorts position.

Bitcoin price chart in 4-hour view.
Bitcoin price chart in 4-hour view.

Inmortal said earlier this week that when bitcoin was trading below $ 40,000, some investors opened short positions. These people are now trapped and will probably have to buy bitcoins to reduce their losses.

He added:

Traders who have lost their weekend due to entering short positions can [با خرید‌های خود] Raise prices next week.

Traders in short trading positions actually borrow bitcoins from the exchange and sell them at a certain price; Hoping that prices will fall so they can make money by returning bitcoins at lower prices.

If prices change against their expectations, they will be forced to buy bitcoins at higher prices to pay off their debts to the stock market, which could cause an upward trend.

The Digital Currency Analyzer publication: Three jump-ready tokens first appeared in Digital Currency.

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