A popular crypto trader is forecasting a massive jump for an already surging Ethereum (ETH) altcoin.
Anonymous crypto analyst Credible tells his 337,700 Twitter followers that OriginTrail (TRAC) could more than double in price – even after a giant 78% surge to start off the week.
The token started the week at a high of $0.27 and soared to $0.48 Wednesday.
The logistics and supply chain management blockchain protocol is designed to help businesses and organizations securely store and manage critical information in a decentralized manner.
At time of writing, TRAC is trading at $0.44.
Credible is forecasting TRAC will next surge to $0.93, a more than 111% increase from its current price.
The trader says the path to the price target high could include a momentary dip to $0.35.
“If you are on the sidelines, the next best entry would be on a retest of the $0.35 level.
No guarantees we get it, but it’s a logical place for us to test if/when we take a breather from this pump and a good chance to re-load/hop on the train if you missed it the first time.”
At the start of the surge, Credible says he was scooping up more of the token during what he called an accumulation range between $0.27 and $0.34.
“I’ve added to my TRAC bag here, more than 2x’d my position here at $0.26, bringing my average down to around $0.35-ish. I fully expect a new all time high this cycle, but first target is a cool 3x-4x to around $1.
$100 million market cap, zero inflation (token supply is fully circulating), AI narrative.”
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Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
