Pseudonymous analyst Altcoin Sherpa tells his 190,500 Twitter followers that Bitcoin is likely to surge at least 25% from its $24,007 value at time of writing.
“BTC: The longer that this hangs around this area, the more bullish I am. I think that it’s quite likely that we see a gap fill up to $30,000 eventually.”
Next, Sherpa says Solana appears headed to the $30 range.
“Solana has done well and it should go to the mid-$30s if BTC holds up. I’m not sure what the long-term future for this coin is, FTX/Alameda had a big bag of it iirc (if I recall correctly) and who knows how that’ll get liquidated. The culture of this chain is still good though.”
Solana is trading for $24.89 at time of writing.
Turning to Fantom, he sets a price target of more than $0.60. Fantom is worth $0.58 at time of writing.
“FTM: Looks extremely… strong, I like this one. It will eventually hit $0.60ish IMO [in my opinion].”
Sherpa also looks at four other altcoins.
“AVAX: Strong move but you probably still get some bids lower at like $17. High volume node around there and some S/R levels. Price currently pulling back due to S/R + 200-day EMA, which acts as resistance in these situations.”
Next, he says Cardano (ADA) is holding up against Bitcoin but he doesn’t expect a strong rally in price, especially when compared to the upside potential of other altcoins. Cardano is trading at $0.40 at time of writing.
“ADA: I don’t really see any reason to buy this coin. The ADA/BTC pair looks pretty good to be honest and at support but I don’t think this outperforms other altcoins relatively. Still, it has an insane community.”
He says Polkadot (DOT) is underperforming relative to other altcoins and does not see a strong case for the token to move to the upside.
“DOT: I don’t see any reason to buy this coin. It’s unpumped relative to the rest of the market but it has performed horribly overall. Not a fan of the chart.”
“GMT: Wouldn’t be surprised if this forms a low around here and continues higher to the $.79 area if BTC is stable. 200-d EMA acted as resistance but it’s still ok for now IMO. I still use this app every week and invested in this one.”Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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