Pseudonymous analyst Altcoin Sherpa tells his 183,100 Twitter followers that he’s bullish on XRP, and he sees the seventh-largest crypto by market cap igniting a decent rally in the short term.
“XRP: The standard…
Targeting range high.”
At time of writing, XRP is swapping hands for $0.41, up over 8% in the past 24 hours.
Next up is leading smart contract platform Ethereum. According to Altcoin Sherpa, he expects ETH to correct some more before potentially carving a bottom and reversing its bearish trend.
“ETH: $1,000-$1,200 next area up according to volume profile. Should be some decent support in that range.
Price is fractal. You see these types of double bottoms for reversals on all timeframes. This is how a potential bottom would look, in my opinion.”
At time of writing, Ethereum is valued at $1,334, a nearly 3% decrease on the day.
Another altcoin on the trader’s radar is Chiliz (CHZ), the native asset of a platform designed for tokenizing sports and esports in order to encourage fan engagement. According to Altcoin Sherpa, CHZ bulls can trigger a rally if they manage to break its immediate resistance at $0.25.
“This looks scary on all timeframes but still has been one of the best-performing coins. Potential double top on the four-hour, plus this is still an area of resistance. If it breaks to the upside, $0.30 is the next area up, in my opinion.”
At time of writing, CHZ is changing hands for $0.24, down over 3% in the past day.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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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.
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