Experienced analyst Cantering Clark says that a major trend change has occurred for an altcoin and the two cryptocurrencies are forming bullish patterns. In this article, we take a look at Clark’s latest analysis of ICE, SPELL, and AVAX.
Cantering Clark starts with trend analysis of altcoin projects
The Twitter analyst, nicknamed Cantering Clark, told his 95,000 followers that he closely follows ICE, the native token of multichain yield optimization platform Popsicle Finance. With ICE bouncing well from all-time highs and showing signs of sudden strength, a trend reversal could continue, Cantering Clark says. To gauge the strength of ICE, the analyst analyzes ICE on the Wrapped Ethereum pair (ICE/WETH):
The graph looks voluminous. Rumors + Big names support + Trend change.
Abracadabra, which also provides passive income, allows users to deposit interest-bearing collateral to obtain a loan from stablecoin Magic Internet Money (MIM). Money’s token also looks at SPELL. According to Cantering Clark, SPELL shows a unique trend change in the rest of the crypto market:
I’m not sure it’s a cleaner trend change than SPELL. The W bottom pattern on the 1 to 1 day timeframe is at the right time as most altcoins cool off after dropping 70-80% from the highs. There are notable investor positions.
Analyst peeks at Ethereum competitors
One Ethereum competitor that is on the analyst’s radar is the smart contract platform Avalanche (AVAX). According to Clark, ATH levels could be close after a clear break of the $120 level:
AVAX is a beast. It looks strong around $120 with possible support and resistance conversion. Next up are the ATH levels.
