A Crypto Strategist Predicts Upside for Ethereum Layer-2 Altcoin
A crypto strategist, known as Pentoshi, who accurately predicted the top of the Bitcoin bull market in 2021, believes that one Ethereum scaling solution is set to experience a surge in value. Pentoshi expresses bullishness towards Arbitrum (ARB), a layer-2 altcoin.
According to the analyst, if ARB manages to surpass its immediate resistance at $1.70, it will receive a significant boost. Currently, ARB is trading at $1.38.
Pentoshi is also keeping an eye on Injective (INJ), a decentralized exchange that provides various financial products such as spot trading and futures. The analyst believes that INJ is in a favorable position as there are no remaining resistance levels hindering its price discovery. INJ is currently valued at $42.14.
Furthermore, Pentoshi highlights Optimism (OP), another layer-2 altcoin, which has broken its recent all-time high at around $3.29 and faces no known resistance levels. The analyst suggests that OP is about to enter a phase of price discovery and believes it could be a good time to buy. OP is currently priced at $3.42.
Hot Take: Upside Potential for Ethereum Layer-2 Altcoins
A well-known crypto strategist predicts that Ethereum layer-2 altcoins, such as Arbitrum (ARB), Injective (INJ), and Optimism (OP), have significant upside potential. ARB could experience a surge if it surpasses its resistance at $1.70, while INJ is in a phase of price discovery without any resistance levels. OP has broken its previous all-time high and is expected to enter a period of price discovery. These altcoins offer promising opportunities for investors interested in the Ethereum ecosystem.
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