A closely followed crypto strategist and trader is unveiling one Ethereum (ETH) competitor that he believes will follow the epic 2021 rallies of smart contract platforms Solana (SOL) and Avalanche (AVAX).
Pseudonymous trader Cantering Clark tells his 103,900 Twitter followers that he’s closely watching Near, a developer-focused blockchain designed for scalability and stability.
According to Cantering Clark, Near is in a position to repeat its December 2021 performance when it more than doubled its value in about one month.
“I think we are setting up for a similar much larger expansion with NEAR as highlighted below. Currently holding the weekly vwap (volume weighted average price) and by no means extended. Twenty-day moving average pointing up and holding. Weekly distribution showing acceptance of higher prices with minimal effort.”
At time of writing, Near is trading at $19.86, up over 140% in the last 30 days.
Cantering Clark adds that he believes Near will continue grinding higher even after posting huge gains.
“Remember what Solana and Avax did? NEAR is going to do the same thing. At each pause, the market calls the top, and it just keeps getting away from you.”
Both Solana and Avalanche had a breakout year in 2021, printing staggering gains of 11,157% and 3,523%, respectively.
Another altcoin on the trader’s radar is Rari Governance Token (RGT), the native governance token of Rari Capital, a non-custodial decentralized finance (DeFi) protocol for lending, borrowing and yield staking.
According to Cantering Clark, RGT appears to have ended its downtrend on the daily timeframe after breaking out from a bullish reversal pattern.
“Another one in the same bucket.
RGT Rari Capital.
No major overhead supply.
Breaking out of a ‘W’ bottoming accumulation structure on the [daily].”