A closely watched crypto strategist believes a small-cap layer-0 altcoin project is primed for a breakout.
Pseudonymous analyst Inmortal tells According to its 207,600 followers on the social media platform
“I like DAG here.
- +400 days of accumulation, completed.
- Breakout + accumulation retest, completed.
Looking to expand.”
Looking at his chart, the trader suggests that DAG will rise to around $0.12 in June.
DAG is trading at $0.061 at the time of writing, up over 13% in the last 24 hours.
The Constellation Layer-0 protocol is designed be a scalable distributed network that allows developers to build blockchains, create crypto assets and build decentralized applications. Layer-0 refers to the base layer of a blockchain network.
The project says that HGTP (Hypergraph Transfer Protocol) is the core technology of the network, comparing layer 0 technology to protocols that create HTTP frameworks for websites.
“Layer-0 standard is the protocol that serves as the foundation for all other protocols built on top of it. Therefore, it is comparable to an established solution such as WordPress.
While WordPress created the framework for websites and businesses to be developed on HTTP, Constellation’s Layer 0 standard provides the foundation for blockchain projects built with HGTP logic.”
The trader too optimistic on decentralized finance (DeFi) altcoin Radix (XRD).
“You know you want to do it. Break it.”
Looking at his chart, the trader suggests that Radix could print a bullish reversal descending triangle pattern if it can turn the area around $0.045 into support.
XRD is trading at $0.043 at the time of having depreciated almost 7% in the last 24 hours.
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Generated image: Midjourney
