The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Crypto Analyst Predicts Massive Downside for Ethereum Rival Polkadot, Updates Forecasts for Cosmos and LooksRare

by Daily Hodl Staff
July 4, 2022
in Altcoins, Bitcoin, Trading

A widely followed crypto strategist says Ethereum (ETH) challenger Polkadot (DOT) could witness a massive 56% haircut from its current price level before finding some stability.

Pseudonymous analyst Altcoin Sherpa tells his 179,900 Twitter followers that interoperable blockchain Polkadot could find support at significantly lower price levels.

“DOT: $3-$5 probably good place to start accumulating this thing. High volume node around there. This chain was a pretty big failure so far in my opinion.”

Image
Source: Altcoin Sherpa/Twitter

At time of writing, DOT is changing hands for $6.85.

The strategist is also keeping an eye on altcoins Cosmos (ATOM) and LooksRare (LOOKS). Altcoin Sherpa says that ATOM and LOOKS are still in a heavy downtrend but there’s a chance that they could print a short-term reversal pattern.

“Not seeing any reversal patterns quite yet. You could maybe see some Adam and Eve double bottom but the trend is still undeniably bearish. Doubtful these play out, but this is what you would watch for reversal in the short/mid term.”

Image
Source: Altcoin Sherpa/Twitter

LOOKS, the utility token of the Ethereum-based NFT marketplace LooksRare, is trading at $0.27 at time of writing, down nearly 4% on the day.

Image
Source: Altcoin Sherpa/Twitter

Cosmos, an ecosystem of blockchains designed for both scalability and interoperability, is currently valued at $8.00.

Looking at leading digital asset Bitcoin, Altcoin Sherpa says he sees BTC lingering in bear territory for an extended period of time.

“Its gonna take months to chop around and accumulate once the bottom is found. And the bottom might not even come for another few months from today. Hunker down for a long bear market”

Image
Source: Altcoin Sherpa/Twitter

At time of writing, BTC is valued at $19,183.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Tithi Luadthong/Natalia Siiatovskaia

Submit a Press Release

Industry Announcements

  • TMNG Tokens Successfully Listed on MEXC Crypto Exchange
    December 1, 2023
  • Sui Surpasses $150 Million in TVL, Showcasing Blistering DeFi Momentum
    November 30, 2023
  • Duelbits Announces Landmark Collaboration With Football Icon Luis Suárez
    November 29, 2023
  • BinaryX Launches AI Chat Game ‘AI Hero’ With Limited NFT Mints
    November 28, 2023
  • Binance Labs and BNB Chain Open New Founder-Focused Track To Incubate 100 Early-Stage Projects
    November 24, 2023
  • Socrates Launches Groundbreaking Social Media and Entertainment Platform for Web 3.0 Users Globally
    November 23, 2023
  • GCEX Receives Operational VASP License From Dubai’s Virtual Assets Regulatory Authority
    November 22, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$38,802.40
$38,802.40
2.63%
Ethereum
$2,091.25
$2,091.25
2.33%
Cardano
$0.383629
$0.383629
1.8%
XRP
$0.610376
$0.610376
1.09%
Dogecoin
$0.083286
$0.083286
0.13%

Spotlight

  • Bitcoin (BTC) Could Explode by Over 400% As ‘Major Risk-On Move’ Looms, According to Glassnode Co-Founders
    November 24, 2023
  • Trader Says Ethereum-Based Altcoin Looking Massively Bullish, Updates Outlook on Polygon, Chainlink and XRP
    November 24, 2023
  • Someone Just Paid $3,140,000 in Bitcoin Fees for a Single BTC Transaction: On-Chain Data
    November 24, 2023
  • Crypto Analyst Says Ethereum Competitor Solana Primed To Surge by at Least 70% – Here’s the Timeline
    November 24, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2023 The Daily Hodl