Top Analyst Predicts New All-Time Highs for DeFi Altcoin, Says Layer-1 Coins Are Heating Up

A trader who accurately called Bitcoin’s (BTC) 2018 market bottom is predicting fresh all-time highs for one decentralized exchange (DEX) altcoin.

Pseudonymous analyst Bluntz tells his 234,000 followers on the social media platform X that a bullish divergence just flashed on the four-hour chart of Injective (INJ).

Traders often keep a close eye on bullish divergences as they may signal the end of a corrective move.

Bluntz shares a chart suggesting INJ may be setting up to rally to an all-time high of $47.

“INJ has been something I’ve been trying to get in on for a while but it just kept going up.

It finally had an almost 25% dip and got a nice four-hour confirmed bull divergence here.”

At time of writing, INJ is trading for $36.30, down over 2% in the past day.

Bluntz is also following the price action of four layer-1 crypto projects and thinks that their native assets are primed to ignite the next leg up.

“All the layer-1s look like they’re heating up again.

SOL, AVAX, SEI, SUI.”

Looking closer at Sui (SUI), the analyst predicts that the altcoin could surge over 28% from current prices.

“SUI prepping for the next leg up to $1 and beyond, this is a good dip to long in my opinion.”

At time of writing, SUI is worth $0.78.

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Featured Image: Shutterstock/Sensvector/Philipp Tur