A famous analyst on Twitter known as TheFlowHorse has provided insights on which three cryptocurrencies he is most bullish on in a series of tweets.
These cryptocurrencies include DyDx, Gala and Celestia. And in this article, we will be going over each of these cryptocurrencies, and examining what possible reasons anyone would have to be bullish on them.
Here is the first:
Sometime in late November, about 500 million DyDx was unlocked, at an estimated 30% of the total supply.
As expected, panic ensued as investors began to fear a crash and a possibly massive DyDx selloff.
However, weeks after that, DyDx has failed to crash. In fact, the cryptocurrency is performing relatively well in the charts.
TheFlowHorse cites this in a recent tweet, stating that the DyDx DEX narrative was getting stronger by the week.
According to the chart above, DyDx is also retesting "the most pivotal support in two years.
DyDx may rebound from where it now sits around $2.9 and may be poised to retarget mid-November's $4.3
According to TheFlowHorse, gaming tokens like Gala "have not had their day in the sun".
This is understandable, considering how in the recent bear market, cryptocurrencies in several "non-essential" niches like gaming, crashed terribly.
Data from CoinMarketCap shows that Gala has declined by as much as 96% from its all-time high in November 2021 (two years ago)
The chart above, pinned to TheFlowHorse's tweet indicates that now may be the best time to buy the Gala dip.
TheFlowHorse in another tweet, mentioned that Celestia may not be getting the recognition it deserves.
According to the analyst, the open interest on derivatives is also where it was, when it was half the price.
This could either mean that Celestia is relatively more stable than other cryptocurrencies in terms of price, or that it is consolidating for a big move upwards.
These cryptocurrencies may not be the most bullish ones in the coming bull run. However, they and several other altcoins like them are poised for massive returns soon and beyond.
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