A Crypto Strategist Believes Constellation (DAG) Is Ready for a Breakout
A crypto strategist with a large following on social media is predicting a breakout for Constellation (DAG), a small-cap layer-0 altcoin project. The analyst, known as Inmortal, believes that DAG is in an uptrend after completing a long accumulation phase and bouncing off a key level at $0.05. He suggests that the altcoin will experience significant expansion and could reach around $0.12 by June.
- +400 days accumulation phase completed
- Breakout + accumulation retest completed
Currently, DAG is trading at $0.061, showing a more than 13% increase in the last 24 hours. The Constellation layer-0 protocol is designed to be a scalable distributed network that enables developers to build blockchains, mint crypto assets, and create decentralized applications. The project’s core technology is the Hypergraph Transfer Protocol (HGTP), which serves as the foundation for all other protocols built on it.
In addition to Constellation, Inmortal is also bullish on Radix (XRD), a decentralized finance (DeFi) altcoin. He suggests that Radix may print a bullish reversal descending triangle pattern if it can establish support around $0.045.
Currently, XRD is trading at $0.043, experiencing a nearly 7% decrease in the past 24 hours.
Hot Take: Layer-0 Altcoins Show Promising Potential for Growth
Layer-0 altcoins like Constellation (DAG) and Radix (XRD) are gaining attention from crypto analysts due to their potential for significant growth. These projects are part of the infrastructure layer of blockchain networks, providing the foundation for other protocols and applications to be built upon.
Here are some key takeaways from the analysis of these layer-0 altcoins:
Constellation (DAG)
- DAG is in an uptrend after completing a long accumulation phase
- A breakout and accumulation retest have already occurred
- The analyst predicts significant expansion for DAG, with a potential price target of $0.12 by June
Radix (XRD)
- XRD may form a bullish reversal descending triangle pattern if it can establish support around $0.045
- The project has potential in the decentralized finance (DeFi) space
It’s important to note that crypto markets are highly volatile, and investing in altcoins carries inherent risks. Therefore, conducting thorough research and consulting with financial advisors is essential before making any investment decisions.
By
By
By