[ad_1]
- Frontier (FRONT) is a great example of a sleeping as far as alt seasons go
- FRONT has been in a wedge for almost a year since going on the rampage in 2021
- A collapse in Bitcoin dominance is looking likely, giving alts the front seat
With Bitcoin dominance dropping to levels not seen since the alt rally of 2018, eyes are naturally turning to which alts might net the biggest returns. Charts are doing the rounds of various coins that could be big winners should an alt season play out as seems the case, but Frontier (FRONT) is a great example of a plethora of coins out there that have gone seemingly under the radar but could be about to offer the biggest returns.
FRONT’s Lengthy Accumulation
Frontier is a crypto management app which uses the FRONT token for governance, liquidity, network consensus, and more. FRONT enjoyed a spectacular start to 2021, racing from $1.13 to $6.45 in the space of 48 hours. It has since fallen right back to below the $0.6-$0.7 range where and has been coiling itself into a wedge ever since topping out in February:
Once this year-long wedge finally breaks (there have been many false dawns as we can see!) we can expect strong upward movement. Naturally we can’t expect a repeat of such a performance (although that of course would be nice for holders), but we can use the levels around that price action to dictate what we could see again:
FRONT has been in an accumulation period since June 2021, barring a failed breakout three months later, and there are clear levels that present themselves on the way back to the crucial level of $4:
$1.11
$2.15
$2.50
$3
Given how tightly FRONT is coiled and the fact that support around $0.7 is looking extremely strong, waiting for dips might not be advisable – once it goes there might be no stopping it! For those who want to wait for confirmation however, which might be wise given the number of fakeouts FRONT has experienced since April last year, a break over the resistance line and a successful retest of it would be the signal to buy.
FRONT isn’t the only coin like this but it is perhaps the cleanest example of such a setup. If you’re on the lookout for coins that could offer huge returns, finding something that enjoyed early 2021 and has been accumulating since then could be the way to go.
[ad_2]
Source link
