A closely followed crypto analyst thinks altcoins will rise as long as Bitcoin (BTC) manages to stay afloat. The analyst also has rally predictions for a few particularly popular meme coins. Here are the details.
The analyst, known to the crypto market by the nickname Altcoin Sherpa, told his 194,000 Twitter followers that altcoins are ready to shine. That said, meme coins are potentially showing a particularly volatile uptrend. added.
He also noted Dogecoin (DOGE), Floki Inu (FLOKI), and Shiba Inu (SHIB) as potential candidates.
“I think altcoins still have a strong exit as long as BTC holds. I’m assuming meme coins will rally last, but it might be good to hoard some of them.
Tell me some of your favourites, and I’ll throw in some bucks.
DOGE FLOKI SHIB”
The analyst also updates his forecast for the altcoin, saying that Litecoin (LTC) has formed a clean foundation near the 200-week exponential moving average (EMA). According to altcoin Sherpa, LTC will likely rise at least 11% from $90 to above $100.
“LTC: I think the 1-week levels look pretty clean here; The price is currently at the 200-week EMA. You can be careful here. However, lower timeframes look healthy; The EMAs are all lining up and I think we will test the $100 levels again soon.”
Looking at Bitcoin, the popular analyst predicts correction before a potential rally, noting that the leading cryptocurrency is stuck in a range. He calls the $29,000 level a resistance that could send BTC on a good run if it breaks.
“Even though we are all celebrating this right now, Bitcoin is still at the highs of the range. Unless we see more continuation to the upside, this will likely be a reasonable short field that is obviously overridden. It can quickly cross $30,000 with a close above $29,000 in the high time frame.”
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