A Crypto Trader Predicts a Chainlink-Style Rally for Mid-Cap Altcoin

Key Points:

• A crypto trader believes that a mid-cap altcoin, Mantle (MNT), is set to replicate Chainlink’s impressive rally during the 2020 bull market.
• The trader, known as Inmortal, draws parallels between MNT’s current price action and Chainlink’s consolidation phase before its massive surge.
• Inmortal suggests that MNT could potentially reach $6, compared to its current value of $0.66.
• Bitcoin’s price movement at a critical level will determine whether it will experience new lows in the current market cycle.

Analysis of MNT and Bitcoin:

Inmortal, a prominent analyst with a large following, has expressed bullish sentiments towards Mantle (MNT), the native asset of the layer-2 scaling solution. Drawing comparisons to Chainlink’s historic rally, Inmortal believes that MNT could be on the verge of a significant price surge.

According to the trader’s chart analysis, MNT’s current pattern resembles Chainlink’s price action before its exponential growth. Inmortal predicts that MNT could potentially reach $6 in the near future, representing a substantial increase from its current value of $0.66.

Switching focus to Bitcoin, Inmortal highlights a crucial price level at $95,000 that will determine the direction of the leading cryptocurrency. The trader suggests that Bitcoin’s reaction at this level will indicate whether it will establish a new low or experience a bullish reversal.

Market Outlook:

At the time of writing, Bitcoin is valued at $87,355, with traders closely monitoring its price action around the $95,000 level. Inmortal’s analysis indicates that a breakthrough above $95,000 could signal a potential rally for Bitcoin, while a failure to hold this level may lead to further downside.

Overall, Inmortal’s assessment of both MNT and Bitcoin suggests that significant price movements could be on the horizon, with potential opportunities for traders to capitalize on emerging trends in the market.

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