Analyst Predicts Over 200% Rally for DeFi Altcoin, Updates Forecast on Chainlink and One Additional Coin

By The Daily Hodl March 11, 2024 In Chainlink, Constellation, DeFi, Jupiter
Source: Inmortal/X

A widely followed analyst thinks that massive gains are ahead for a new decentralized finance (DeFi) altcoin.

Pseudonymous analyst Inmortal tells his 209,300 followers on the social media platform X that the governance token of the Solana (SOL)-based decentralized exchange aggregator Jupiter (JUP) looks primed for a parabolic surge.

Inmortal shares a chart suggesting that JUP will rally to a new all-time high of $2.30, an increase of more than 207% from current levels.

Source: Inmortal/X

At time of writing, JUP is trading for $0.747.


Next up, the trader is keeping a close watch on the decentralized oracle network Chainlink (LINK). Inmortal says he expects LINK to consolidate for a couple of weeks before moving higher.

“Range high + moving average 200 [retest]. One to two weeks more of chop between $17-$21 then another leg up, in my opinion.”

Source: Inmortal/X

At time of writing, LINK is worth $20.01.

Another coin on the trader’s radar is Constellation (DAG), a cryptocurrency platform built on a Directed Acyclic Graph (DAG) structure. According to Inmortal, DAG is in a position to witness an uptrend after ending an extended accumulation period.

“Love the DAG chart.

A +500 days accumulation is over and ready to expand in the next months.

You don’t see this every day.”

Source: Inmortal/X

Looking at the trader’s chart, he appears to have marked $0.10, $0.20 and $0.46 as key resistance levels for DAG. At time of writing, DAG is worth $0.076.

Generated Image: DALLE3

Published on

The Daily Hodl

View the full article

You may also like