A crypto analyst and co-host of the Coin Bureau, with a close following of millions, is warning about a number of altcoins that have performed well in the past week.
Guy warns about these altcoin projects: TRX, GMT, NEXO and XDC
The analyst, nicknamed Guy, whose analyzes and comments we have included in the news of Kriptokoin.com, is the new analyst of smart contract platform TRON (TRX).
TRX is in a long-term uptrend, and while this trend may seem stronger than most other cryptocurrencies at first glance, TRX has grown by a percentage over the past few years. didn’t move much. So keep that in mind before you get too excited.
Guy also has his eye on STEPN, a booming, win-win project whose GMT token has been enjoying parabolic movements in recent weeks. The analyst says that GMT has a chance to continue its rally, but is facing the heavy down weight of the wider crypto market decline:
GMT is forming a solid support zone around current levels that will help as it tries to break out of all-time highs. looks like. Note that if we go below this zone, the GMT may crash by more than 30%.
Analyst also points to crypto lending platform Nexo, whose native NEXO token is rising after a surprise Binance listing. While the project is ultimately bullish on the project, Guy warns that upcoming regulations on companies like Nexo may place a limit on how far they can go:
Nexo is in a very strong long-term uptrend, but one that allows you to earn interest on your idle crypto. I wonder how much bigger it can get, given the pressures we’re starting to see in apps.
Finally, Guy warns traders about XinFin XDC, which aims to be an enterprise-ready Blockchain protocol specializing in tokenization for real-world decentralized finance. The analyst also says that limited access to XDC via exchanges and an overall bearish crypto market could pose problems for the altcoin:
While XDC is still in a long-term uptrend, I will be cautious here as exchange support is currently limited. . Never mind the fact that he probably won’t be able to pump against the fall for long.
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