DataDash founder Nicholas Merten is looking at five crypto assets that he believes are gearing up to erupt as he says the altcoin supercycle of 2021 is underway.
In a new video, Merten says that he’s keeping a close watch on Ethereum after the second-largest crypto asset broke out of a large bullish pattern.
“We could see here that Ethereum has broken past the line of resistance. We set in yet another higher low along with the other three higher lows we had back here since January (2021). We look like we’re set on a course to break above those all-time highs.”
The crypto strategist is also looking at ETH/BTC which he highlights is still in the midst of a parabolic run. According to Merten’s chart, ETH/BTC can potentially surge over 170% from its current value of 0.035 to 0.095.
Another coin on Merten’s radar is layer-two scaling solution OMG Network (OMG), formerly OmiseGo. The trader highlights that OMG/BTC has likely bottomed out and it looks ready to take out a key resistance level and print massive gains.
“After setting another higher low, [OMG/BTC] is waiting to get above 1,500 satoshis (0.000015) range. Once we break past there, which again was previous support and is now acting as resistance, if we break above there, really, it seems like the sky is the limit, especially how we’ve seen it perform in the past.”
Next up is decentralized oracle platform Chainlink (LINK), which Merten says is poised to outperform Bitcoin once it edges above a key level.
“Taking a look at Chainlink, setting a consistent range lows or support on top of previous resistance looking like it’s ready to start kicking upwards, outpacing Bitcoin and also breaking above this line of resistance (0.0006), really kicking off the next cycle for Chainlink.”
The fourth coin on Merten’s list is lending and borrowing protocol Aave. The crypto analyst believes the crypto asset has likely bottomed out after taking a nosedive against Bitcoin in a span of nearly two months.
“We had a clean 60% pullback here where Aave, one of the large-cap DeFi (decentralized finance) protocols probably has some room now to start moving up.”
The last coin is TRON (TRX/BTC). Merten identifies a key level that the pair must take out to generate massive bullish momentum.
“We’ve made support and this previous support which is now acting as resistance (0.0000015), if we pop above this I can see a lot of momentum coming back to this.”
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Featured Image: Shutterstock/Tithi Luadthong