Nicholas Merten, a popular cryptocurrency trader and the founder of DataDash, has revealed some of his top cryptocurrency picks for the upcoming altcoin season he believes is set to come.
In a new episode of DataDash, first spotted by Daily Hold, Merten said he is keeping a close watch un UNI, the native token of the Uniswap decentralized exchange, noting that on the UNI/BTC trading pair the cryptoasset is poised to reverse its downtrend. Merten said:
The general gist is that you have a complete U-shaped recovery from the relative highs at the launch and then we have room to possibly break out even higher in valuation.
If the Uniswap exchange keeps adding in volume, he said, the move “might be a bit more rational than it looks right now.” To Merten, UNI’s price could rise above 0.007 BTC, which would represent an increase of 180% from its current 0.00025 BTC.
Another coin the analyst is keeping an eye on is dHedge DAO (DHT), an Ethereum-based protocol for decentralized asset management powered by Synthetix. With this announcement, dHedge is emerging out of stealth mode.” He is eyeing DHT as it’s seeing higher lows and “another U-shaped recovery.”
The analyst also pointed out Chainlink on the LINK/BTC trading pair, saying it’s starting to show bullish signs after making a massive green candle. He added:
Chainlink having a nice base here, a very healthy bottom over the course of multiple weeks going into early January and now starting to kick up.
Finally, Merten mentioned Polkadot, as he believes against bitcoin the cryptocurrency’s downtrend could have ended earlier this month, and is now set to climb to 0.013 BTC. Cardano’s ADA, he said, also looks set to move up based on technical analysis.
Featured image via Unsplash.
