Red color dominated the cryptocurrency market with sales. However, some tokens may be gathering strength for new moves. At least that’s the case according to some analysts. A crypto analyst with a large following shared 4 altcoin projects on his radar. The analyst expects a rally for one of them, the original meme coin Dogecoin. He also talks about a splash for an Ethereum-based token.
Analyst expects a strong move from DOGE!
cryptokoin.comAs you follow from , the market changed direction very quickly. Leading crypto Bitcoin fell below $70,000 again. With exceptions, many altcoins also moved deeper into the red zone. Even though the crypto atmosphere is like this, the analyst with the pseudonym Altcoin Sherpa says that DOGE managed to stay above a key support level on the weekly chart even after falling to a seven-day low of $0.169. With weekly support remaining intact, the analyst now predicts DOGE sparking a rally of around 60% from current levels. In this context, the analyst says:
DOGE: For now [haftalık] It was held above the level, continuing the pump to $0.32. I think long DOGE is a completely reasonable idea and I think it is one of the safest trades you can make. Honestly, it probably outperforms most other things, too.
Altcoin Sherpa: I like ETHFI’s chart!
The analyst is also bullish on the native asset of Ethereum-based decentralized liquid staking protocol Ether.fi (ETHFI). Altcoin Sherpa says ETHFI is in a position to bounce as long as it trades above $4.75. In this regard, the analyst makes the following statement:
ETHFI: Bought around here. I like the chart and this is a new coin and it looks like it is forming a medium term bottom. I will sell around $6.70 with a stop below the lows (higher timeframe close below $4.75 = I’m out).
Altcoin Sherpa calculates to buy W on the rise!
The analyst is also keeping a close eye on cross-chain messaging protocol Wormhole (W). Altcoin Sherpa shares a chart showing W forming a rolling bottom reversal pattern on the hourly time frame. Accompanied by this graphic, he says the following:
W: I want to buy this on the rise. It might be good. I believe this will increase severalfold over the next few weeks as long as BTC remains stable.
The analyst expects the PROM on his radar to move out of range!
Finally, the analyst is looking at Prom (PROM), a layer-2 protocol designed to provide cross-chain interoperability. According to Altcoin Sherpa, PROM, which is on its radar, is trading in a wide range between $9.50 and $14.95. That’s why the analyst prefers to wait for now. In this context, he notes:
PROM: This is a coin I bought and traded a lot in 2021. It’s currently consolidating in this range and I don’t see a real breakout (yet). I will wait for the price to either drop to the lows of $9.50 or rise above $16.
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