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The Crypto Dog, a well-known crypto strategist, believes that the Ethereum-based altcoin ETH $2,489.88 Ethereum -2.20% Market capitalization $300.48 billion VOL. 24 hours $0.76 billion will very quickly surpass the flagship crypto asset BTC $79,389.88 Bitcoin -1.03% Market capitalization $1.59 trillion VOL. 24 hours $1.41 billion .
The analyst informs his 750,500 followers on the X platform that the decentralized exchange protocol Injective (INJ) looks bullish on the INJ/BTC chart.
Looking at his chart, the trader assumes that INJ/BTC may soon turn a key resistance level into support. It is noteworthy that the crypto asset has not been able to do this before.
on October 16, INJ/BTC closed at 0.2 737 BTC ($ 7.80), and now it costs 0.9 446 BTC ($ 40.75). Thus, INJ has grown by about 245%.
The Crypto Dog notes that Injective is on the verge of a breakout after a period of consolidation in the range of $ 30 to $ 40:
«INJ looks like another winner this week. The consolidation here is taking longer than expected, but it’s only a matter of time.»
The trader added that the Chiliz token (CHZ) will also soon experience a trend reversal: «I have taken a position on CHZ. It looks like it’s ready to break this two-year downtrend, and if it does, there are big profits to be made. A strong project, unique fundamentals, I have always been a fan of it. He was one of the first to combine the real world with cryptocurrency.»