A closely followed crypto trader turns bullish on Toncoin (TON), saying a big-cap altcoin is preparing to become the “dark horse” of the market cycle.
Pseudonymous trader Loma tells his 303,000 followers on the social media platform
“Building a TON position while looking for something like that [1] area to accumulate.
Close the position at [2] area.
Possible acceptance below [1] and that probably just means it’s time to downsize or cut it altogether because I’m wrong.
I think a lot of coins look like this, for what it’s worth: Choose your poison. I don’t think there is much point in being hyper-bearish at pivotal moments in the market structure.”
At the time of writing, TON is trading at $5.55.
According to Loma, BNB, the cryptocurrency powering the BNB Chain ecosystem, is likely gearing up to print new all-time highs (ATHs).
“Binance Coin has already erased the entire downward movement.
Quarter burns. Negative financing.
Don’t see any reason why this won’t also produce new ATHs if you expect Solana, Ethereum and the rest of the gang to do so.”
The trader has called BNB is a dark horse for large-cap crypto assets, citing multiple bullish factors.
“I think Binance Coin is a live dark horse for majors.
• Structurally looks good in both USD and BTC pairing
• Negative financing because it is typically hedged against spot positions for rate reductions by larger whales
• Freedom from SEC prosecution in the short/medium term
I have a bag.”
At the time of writing, BNB is worth $594.76.
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Generated image: DALLE3