A popular analyst evaluated the status of three leading crypto assets as the markets approached the weekend with cautious steps.
The crypto analyst known by the alias Altcoin Sherpa says that if Bitcoin (BTC) recaptures the $20,300 area, it will see $21,600 as the next step. told.
“I think we need to see this $20,300 zone retrace before it goes higher.
The next target will be $21,600.”
The analyst then installs the decentralized oracle network Chainlink. viewed. According to altcoin Sherpa, LINK’s current sideways price action could be a sign that investors are packing their bags in anticipation of a rally.
“To me this seems to be in the accumulation phase. […] The strength of the next move will depend on how long it stays in the accumulation phase – the longer the move in range, the stronger the move.”
The charter concluded his analysis by looking at Ethereum (ETH) over the ETH/BTC trading pair. He added that while ETH is still bearish, the 200-day exponential moving average (EMA) of 0.07008 BTC ($1,416) is acting as resistance.
“The charts still don’t look great on the high timeframe; The lower timeframes show the 200-day EMA acting as resistance once again. Trend until shown otherwise [bence] still bearish.”
$ETH: Higher time frame charts still don’t look great; lower timeframes show the 200 EMA acting as resistance once again. Trend is still bearish until shown otherwise IMO. #Ethereum $ETHBTC pic.twitter.com/Vj32h9OO3E
— Altcoin Sherpa (@AltcoinSherpa) July 5, 2022
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.