Prominent Analyst Shares 6 Altcoins to Watch Closely This Week
Miles Deutscher, a well-known cryptocurrency analyst and trader, shared his weekly token and trend watch list on Twitter.
According to Deutscher, Bitcoin (BTC) is showing signs of strengthening as it bounced off the key $25,000 support level and saw a large increase in open interest. Deutscher stated that the price movement could be related to a possible ETF approval and asked for close monitoring.
The analyst also said that Stacks (STX), Bitcoin Cash (BCH) and eCash (XEC) coins could be positively affected if Bitcoin dominance increases, but they are quite risky.
Deutscher listed Arbitrum as the next coin he is watching. Reminding that a large amount of ARB coin was transferred to the stock exchange last week, Deutscher stated that the 50 million ARB incentive program, which we also mentioned as Bitcoinsistemi.com, could have a positive impact.
Deutscher, who had the LINK token next on his list, said that the token followed an accumulation model on its chart and argued that it showed signs of relative strengthening.
Radiant Capital (RDNT) token was last on the analyst's list. Deutscher reminded that the mainnet launch will take place within two weeks in the token's road map. He also said that the RDNT token will benefit from the 50 million ARB that has been launched for distribution in the Arbitrum ecosystem.