A widely followed crypto analyst is expressing bullish sentiment on Bitcoin Cash (BCH) after a sudden move to the upside.
Pseudonymous crypto trader Altcoin Sherpa tells his 196,800 followers on the social media platform X that BCH could soar 25% from its current value.
“BCH: no clue why this is pumping so well but keep it going. The chart is clean on this one. I think it’s still going to go higher. Buying a dip around $220 would be nice.”
The trader uses the Fibonacci retracement levels to suggest that BCH may dip to $220 before a rally to $300.
Bitcoin Cash, a Bitcoin (BTC) hard fork that spun off from the top crypto asset in 2017, is trading for $240 at time of writing.
“On-chain coins are doing really well lately. RLB, UNIBOT both still looking good but there are lots of other really strong mid-caps…
You can decide how far down the risk curve you want to go but things are looking nice for now.”
Looking at his chart, the trader appears to show that RLB looks strong after converting its resistance at $0.158 into support.
Rollbit is trading for $0.16 at time of writing.
As for UNIBOT, the trader’s chart appears to indicate that the altcoin looks bullish after taking out its diagonal resistance.
UNIBOT is worth $62.51 at time of writing.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
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/Salamahin/HUT Design