A widely followed crypto strategist is predicting a massive breakout for one decentralized finance (DeFi) low-cap altcoin.
Pseudonymous analyst The Crypto Dog tells his 810,200 followers on the social media platform X that Synapse (SYN), a protocol that aims to enable secure cross-chain communication, could soar more than 75% from the current value.
“Think it can see $1…
10% dip back to breakout level. I rebought SYN.“
Synapse is trading for $0.566 at time of writing, down 12.82% in the last 24 hours. The cross-chain network project was launched in August 2021 and is compatible with most other layer-1s and layer-2s.
Next up, the analyst says that he is flipping bullish on Ethereum (ETH) rival Fantom (FTM), suggesting a breakout of a descending trendline may be forming on the hourly chart.
“Would be an attractive break FTM… Started position in FTM.”
Fantom is trading for $0.38 at time of writing, up slightly in the last 24 hours.
Lastly, the analyst says that the native asset for the stablecoin-focused decentralized exchange Curve DAO (CRV) may be gearing up for a bounce after retracing.
“Probably the dip to buy for CRV at $0.318.”
CRV is trading for $0.30 at time of writing, down more than 1% in the last 24 hours.
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Generated Image: Midjourney