Analyst Predicts Big rallies for Undervalued Altcoin, Says Bitcoin Trading at Critical Do-or-Die Level

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A prominent crypto trader says he expects major moves in an altcoin before weighing on the fate of Bitcoins following a sudden drop in BTC prices.

The pseudonym Inmortal tells its Telegram subscribers that the graph looks good for ATOM, the native token of the Cosmos interoperable blockchain network.

“ATOM / USD

I love this painting [right now].

Net deviation after retesting daily demand and relevant swing point.

The low range tested, the high range at $ 48 is next.

Source: Immortal / Telegram

In a tweet featuring the graphic above, Inmortal concludes by saying:

“ATOM is undervalued. “

At the time of writing, ATOM was trading hands at $ 32.20, up more than 20% on the week, but still down from its all-time high in September of $ 44.73.

Inmortal then looks at Bitcoin, which recently fell from a new high above $ 69,000 to below $ 56,000. His predictions for the top crypto are clear.

“Do or die.”

Source: Immortal / Twitter

The trader is planning a possible BTC rally where $ 61,000 is a key breakout level.

“Dream scenario IF we get 61k back.”

Source: Immortal / Twitter

Bitcoin is currently priced at $ 57,076.

Inmortal ends its crypto analysis by examining the main Ethereum altcoin. The trader believes ETH is on the verge of overtaking Bitcoin in terms of market cap, which is colloquially referred to as “the turnaround.”

“The turnaround is only a matter of time.”

Source: Immortal / Twitter

At the time of writing, ETH is priced at $ 4,291, and its market cap of $ 512.6 billion is roughly half of Bitcoins, which are valued at over $ 1,000 billion.

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