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Altcoin season? Trader indicates cryptocurrencies that can yield

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DataDash founder, trader Nicholas Merten, is unveiling some of his top picks for 2021 in the cryptocurrency ecosystem.

According to him, the year promises a new season of altcoins. Therefore, just as Ethereum overcame Bitcoin’s appreciation in 2020, the trend is for other digital currencies to also stay ahead of BTC in return on investment.

Altcoins

In a new edition of DataDash, Merten said he is closely following Uniswap against Bitcoin.

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According to the trader, the UNI / BTC pair is about to end its bearish trend. This is because the crypto is printing a technical reversal pattern.

“The general essence is that you have a complete U-shaped recovery from the relative maximums at launch. So, we have space to possibly break even further in the evaluation… If Uniswap continues to obtain higher volumes, this may be a little more rational than it looks now ”, he said.

Therefore, for the founder of DataDash, the UNI / BTC pair could rise above 0.007. Thus, representing an increase of 180% over its current value of 0.00025.

Other cryptocurrencies

Another currency on Merten’s list is dHedge DAO (DHT), a decentralized asset management protocol based on Ethereum. The protocol allows users to become their own hedge funds.

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The executive expects the DHT / BTC pair to quickly rise above 0.00014 from its price of 0.000058.

In addition to DHT, the analyst is also optimistic about Chainlink (LINK / BTC). Merten said the pair is starting to give “signs of life” after issuing a huge green light on the weekly chart.

“Chailink has a good base here. A very healthy fund over the course of several weeks in early January and now starting to rise. ”

Polkadot and Cardano

Another crypto that Merten is also tracking is Polkadot (DOT / BTC). He believes the pair ended its bearish trend earlier this month and is now set to rise to 0.0013 from its current value of 0.00047.

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In addition, another cryptocurrency on Merten’s radar is Cardano. He says the ADA / BTC pair looks technically healthy after breaking the 0.0001 resistance.

“It is a matter of making (the resistance) a support in the coming days and possibly rising to even higher levels against Bitcoin.”

Also read: Stellar gives free cryptocurrencies to those with XLM in their wallets

Also read: Check out 6 cryptocurrencies that rose more than 100% this week

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Read also: Bitcoin is having better month of January since 2014

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