A widely followed crypto analyst is detailing his outlook on three altcoins, one of which he says could skyrocket in the coming months.
Pseudonymous crypto strategist Altcoin Sherpa tells his 200,600 followers on the social media platform X that Ordinals (ORDI), a token focused on Bitcoin’s (BTC) ordinals protocol, appears primed to surge to the $60 level, where he says he’ll begin to exit the trade.
“ORDI: I bought this today at $47. Missed that spike down at $42 but all good. Love these setups; they’re my favorite. Going to be scaling out soon at $60.”
ORDI is trading for $56.25 at time of writing, an 11.33 dip on the day.
Moving on to Stacks (STX), a project that aims to enable smart contracts and decentralized finance (DeFi) applications on Bitcoin, Altcoin Sherpa says that traders should keep an eye on the $0.84 to $0.94 range for a potential entry point to go long.
“STX: I’m going to be eyeing this trade setup around $0.94 or something. Half there and half at $0.84, the .50 [Fibonacci level] of the range. favorite setup here.”
STX is trading for $1.04 at time of writing, a 12.3% decrease during the last 24 hours.
The trader is also keeping an eye on the crypto gaming project Beam (BEAM). Altcoin Sherpa says he expects the altcoin, which was launched by the Merit Circle decentralized autonomous organization (DAO), to skyrocket over the next few months.
“BEAM: I’m using the old MC (Merit Circle) chart on Kraken because it has price history. Current area is at a stopping point with those past wicks. Still, I expect this one to go much higher in the coming months. I have a bag and it’s a good way to get exposure to many crypto gaming projects.”
BEAM is trading for $0.015 at time of writing, a 20% increase on the day.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/Tithi Luadthong/Vladimir Sazonov