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December 12, 2023

Trader Bullish on Cosmos (ATOM), Says One Dogecoin Rival Setting Up for Next Leg Up – Here’s His Outlook

By Daily Hodl Staff

A widely followed crypto analyst is turning bullish on Cosmos (ATOM) as the altcoin space begins to take off.

Pseudonymous crypto strategist Altcoin Sherpa tells his 201,100 followers on the social media platform X that the native asset of the interoperable blockchain ecosystem Cosmos could surge more than 27% from its current value.

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“ATOM: Coins like ATOM are laggards, but finally waking up a bit. Probably going to keep an eye on this one and expect $15 to come if BTC plays nice.”

Source: Altcoin Sherpa/X

The trader’s chart suggests ATOM is in an uptrend after breaking out of an accumulation range between around $8 and $9, and could be heading to the next major area of resistance at about $15.40.

ATOM is trading for $11.75 at time of writing, up 18.7% in the last 24 hours.

Next up, the trader says that Solana-based (SOL) memecoin and Dogecoin (DOGE) rival Bonk (BONK) could be headed higher.

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“BONK: next leg coming?

Probably good to have some exposure to this meme wise. I’m already all out of my position but thinking about re-entering.”

Source: Altcoin Sherpa/X

Looking at the trader’s chart, he suggests that BONK could soon cross the $0.00001500 level.

Bonk is trading for $0.00001157 at time of writing, down 2.3% in the last 24 hours.

Lastly, the trader says he is bullish on Ethereum (ETH) and believes it could cross key levels to the upside at $3,050 and $3,522, after having flipped the $2,100 level into support.

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“ETH: I still think that Ethereum is one of the easiest trades you can take. It consolidated under the $2,000ish mark for almost two years and finally out of that range. This is going to catch up for sure and I think that ETH/USD goes to $3,000 in the coming months.”

Source: Altcoin Sherpa/X

Ethereum is trading for $2,190 at time of writing, down 1.2% in the last 24 hours.

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Featured Image: Shutterstock/lucky vectorstudio/LongQuattro