Analyst Explains Why $LINK, $DOT, $EGLD, $AVAX, and $MINA Are ‘Ready To Skyrocket’

Recently, crypto analyst Aaron Arnold, Co-Founder and one of the hosts of the “Altcoin Daily” YouTube channel, named five cryptoassets that he believes could “skyrocket” in October.

In a video released on September 18, Arnold said he was bullish on Chainlink ($LINK) as a “blue-chip” altcoin for traders. He said $LINK appeared to be gearing up for a breakout on trading charts and said he was high on the coin “as long as we’re in a bull cycle.”

The next cryptoasset Arnold talked about was $DOT, saying that it is likely to follow in the footsteps of $SOL in terms of price explosion. 

As reported by The Daily Hodl, Arnold said:

Getting some major Solana vibes from DOT. It’s been rejected a few more times, but I think the trajectory (weekly candle close), relation to the previous all-time high and the fact that it hasn’t really pumped this entire run. I’m hoping it can shine like SOL in the next couple weeks.

Arnold highlighted Elrond ($EGLD) as another altcoin for traders to follow, saying the cryptoasset had recently posted a golden cross on the trading charts. Arnold said the pattern was a bullish signal and had previously led to two all-time price highs for $EGLD. 

The popular analyst was also bullish on Avalanche ($AVAX), saying the project was gaining momentum from users joining the smart contract platform. He compared $AVAX to SOL, saying the coin had the potential to follow a similar price trajectory.

Arnold rounded out his top five altcoins with Mina Protocol ($MINA), a privacy-focused coin with backing from crypto venture capitals. He highlighted the coin’s unique staking mechanics, which incentivizes users to hold the coin, thereby driving price higher.

DISCLAIMER

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

IMAGE CREDIT

Image by “WikiImages” via Pixabay