A closely followed crypto strategist believes that one small-cap layer-0 altcoin project is primed for a breakout.
Pseudonymous analyst Inmortal tells his 207,600 followers on the social media platform X that scaling solution Constellation (DAG) is in an uptrend after bouncing off a key level at $0.05 following a long accumulation phase.
“I like DAG here.
- +400 days accumulation, completed.
- Breakout + accumulation retest, completed.
Looking for expansion.”
Looking at his chart, the trader suggests DAG will soar to around $0.12 by June.
DAG is trading for $0.061 at time of writing, up more than 13% in the last 24 hours.
The Constellation layer-0 protocol is designed to be a scalable distributed network that allows developers to build blockchains, mint 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 its layer-0 technology to protocols that create HTTP frameworks for websites.
“Layer-0 standard is the protocol that serves as the fundamental for all other protocols built on it. Hence, it’s comparable to a well-established solution like WordPress.
While WordPress created the framework for websites and businesses to be developed on HTTP, Constellation’s Layer 0 standard forms the basis for blockchain projects built with HGTP logic.”
The trader is also bullish on decentralized finance (DeFi) altcoin Radix (XRD).
“You know you want to do it. Break it.”
Looking at his chart, the trader suggests Radix may print a bullish reversal descending triangle pattern if it can flip the area around $0.045 into support.
XRD is trading for $0.043 at time of writing down nearly 7% in the past 24 hours.
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Generated Image: Midjourney
