A popular crypto strategist says that Bitcoin (BTC) and two rivals to Ethereum (ETH), Solana (SOL) and Fantom (FTM), have more room to run.
Pseudonymous Altcoin Analyst Sherpa He says his 190,500 Twitter followers that Bitcoin is likely to rise at least 25% from its value of $24,007 at the time of writing.
“BTC: The longer this goes on in this area, the more bullish I am. I think it’s quite likely that we will eventually see a $30,000 gap.”
then sherpa He says Solana appears to be headed for the $30 range.
“Solana has done well and should hit the mid-$30s if BTC holds up. Not sure what the long term future of this coin is, FTX/Alameda had a lot of iirc (if I remember correctly) and who knows how it will be liquidated. However, the culture of this chain is still good.”
Solana is trading at $24.89 at the time of writing.
As for Fantom, he sets a price target of more than $0.60. Fantom is worth $0.58 at the time of writing.
“FTM: It looks extremely… strong, I like this one. It will eventually reach $0.60 in my opinion [in my opinion].”
Sherpa also discusses four other altcoins.
He He says Avalanche (AVAX) is likely to pull back to $17, down more than 20% from its value of $21.48 at time of writing.
“AVAX: Strong move, but probably still getting some lower bids at around $17. High volume node out there and some S/R levels. The price currently pulls back due to the S/R + 200 day EMA, which acts as resistance in these situations.”
then he He says Cardano (ADA) is holding its ground against Bitcoin, but do not expect a strong rally in price, especially when compared to the upside potential of other altcoins. Cardano is trading at $0.40 at the time of writing.
“ADA: I really don’t see any reason to buy this coin. The ADA/BTC pair looks pretty good to be honest and supported, but I don’t think it will outperform other altcoins relatively. Still, it has a crazy community.”
He says Polkadot (DOT) is underperforming other altcoins and doesn’t see a strong case for the token to move higher.
“DOT: I see no reason to buy this coin. It’s not pumped up relative to the rest of the market, but overall it has performed horribly. I’m not a fan of the list.”
lastly he He says STEPN (GMT) is likely bottoming and rallying to $0.79, up more than 38% from its value of $0.57 at the time of writing.
“GMT – I wouldn’t be surprised if this forms a bottom around here and continues higher to the $0.79 area if BTC holds steady. The 200 day EMA acted as resistance, but it is still good for now in my opinion. I still use this app every week and invested in it.”
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