Jason Pizzino, a crypto strategist and trader, says he’s keeping a close eye on Polkadot (DOT), Avalanche (AVAX), and two other crypto assets as the altcoin markets continue to show signs of strength.
Pizzino tells his 210,000 YouTube subscribers in a new strategy session that he expects interoperable blockchain Polkadot to continue surging to around $50 after a brief cooldown period.
“For one, we want to see consolidation before the move up, or two, we want to see a move back [to $28], consolidation, and then the move up. They are the options I am looking for in order to have a positive outcome for a DOT trade.”
Pizzino, who is interested in the smart contract platform Avalanche, says he is waiting for AVAX to consolidate before igniting the next leg up.
“If we get the correction lower into previous zones ($45), it simply means that we’ll need more time in a consolidation period before we can take off again… Before making the next move, you want to see the consolidation. Participate in the breakout. That appears to be a more powerful cryptocurrency.”
Following that is Cosmos (ATOM), a crypto asset that powers an ecosystem of blockchains that are designed to scale and interoperate with one another. According to the crypto strategist, ATOM should trade between $30 and $37 before resuming its price rise.
“If we get that nice consolidation, give us a few minutes to rest before we take off again.” We’re looking good. That is precisely what we want to see.”
SushiSwap, an automated market maker, is the last coin on the trader’s radar (SUSHI). SUSHI, according to Pizzino, must remain above critical levels in order to maintain its uptrend.
“This is in a reasonable setup, assuming we maintain these levels, which is around $14. Of course, I don’t want to see it fall below $12, and at worst, this level here, which is around $9.50 because those are your higher lows… When the lows begin to break, it is considered a downtrend.”