An analyst closely followed by the crypto community advises traders of two other crypto assets to be cautious while predicting rallies for a popular blockchain-based gaming ecosystem and an Ethereum rival.
Analyst wary of these 2 Altcoins
of ApeCoin (APE)
The trader, known by the alias Altcoin Sherpa, has 170,500 Twitter followers, a new crypto asset created by the founders of the Bored Ape Yacht Club (BAYC) with a market cap quickly exceeding $2 billion. of ApeCoin (APE) He said he was wary of the risk/reward ratio (R:R).
“The bullish market structure on the lower timeframes is still intact/solid; Personally, I’d be a little wary of it because I don’t think R:R is that good for a trade.
Also in terms of investment [çok] expensive [bence]. However, I would consider buying if a bottom were to occur.”
ApeCoin was launched on March 17 at a valuation of $7.40 and was up 132 percent the previous day to $17.17 before correcting. APE is priced at $13.85 at the time of writing.
Phantom (FTM)
Altcoin Sherpa is an enterprise-grade blockchain platform. to Phantom (FTM) also cautious. The analyst renewed a tweet he made on March 19; He advised investors to reduce their risk, as he did not expect a “full” altcoin season or a period when altcoins would outperform Bitcoin (BTC) significantly.
“…again, a friendly reminder. Your $2.70 FTM purchase is probably unlikely to reach that level, accept your loss next move.”
At the time of writing, Phantom is trading at $1.38, up 0.4 percent. FTM last touched $2.50 on Jan. 21.
These 2 altcoins will rally if Bitcoin performs well
The Sandbox (SAND)
The trader, nicknamed Sherpa, later became the Ethereum-based virtual world. With The Sandbox (SAND) He also shared his opinions. Trader is the other metaverse gaming coin of SAND’s price action to Axie Infinity (AXS) He said it was similar.
“It’s like the AXS before the moon landing. If AXS starts pumping hard, you could probably consider buying some metaverse; if this happens [metaverse coin’lerin] I think it will do a really good job.”
Sandbox, which has increased by 1.1 percent in the last 24 hours, is trading at $ 3.42 at the time of writing.
Near (NEAR)
Crypto strategist also scaling solution protocol if BTC rises Near’s (NEAR) He is also quite optimistic that it can exceed $16.
“As long as BTC performs well, I think we will go above $16 or more in the coming weeks.
It has been in decline for 2 months, I believe it will expand soon.”
NEAR, which has fallen 2.4 percent in the last 24 hours, is trading at $ 12.68.
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.