Dogecoin Faces Make-or-Break Moment As Three Altcoins Gear Up for Sizeable Rallies: Crypto Strategist
One popular crypto trader says three altcoins are ready to make their move while Dogecoin (DOGE) is hesitant to run.
The crypto trader known as Loma tells his 206,000 Twitter followers that Axie Infinity (AXS), Tezos (XTZ), and Terra (LUNA) are all gearing up for massive rallies.
Starting with the gaming crypto platform Axie infinity, Loma is looking for entries down to the $110 level before seeing further upside.
“Looking to DCA (dollar cost average) down to $110 if the market would be so generous.
Don’t think that Axie is done if we’re in a bullish market. Imagine fading something that has Infinity in its name.”
Next on his list is the smart contract platform Tezos. Loma says that he re-entered his position in XTZ after taking profits during its rally up above $9. He’s now looking for a target above the $10 level.
“Re-entered with the profits I took at $8.60
It’s simple, I make rules like… if price loses that low established before the move up, I don’t want to be in this trade anymore.
Unironically, people are scared to buy this, but will buy $8.50 like water.”
Next up is the smart contract platform Terra. The trader is anticipating a run back up to previous highs after LUNA topped out just under $50.
“Punted what I took off back at entry.
Goal in a bull market is to compound as much as possible and not sell too f— early.
[Yes I have my healthy allocation of Bitcoin]”
As for DOGE, Loma thinks the meme token will have to decide soon between moving to new highs against Bitcoin (BTC) or dropping significantly lower.
“If $DOGE is going to start outperforming Bitcoin, it’s going to either be here… or significantly lower [think >30% on the BTC-pairing obviously].”
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The post Dogecoin Faces Make-or-Break Moment As Three Altcoins Gear Up for Sizeable Rallies: Crypto Strategist appeared first on The Daily Hodl.
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Author: Daily Hodl Staff
