An experienced crypto analyst predicts the leading crypto Bitcoin (BTC) rally. It also updates the outlook for Solana (SOL) and Chiliz (CHZ).
Analyst predicts a 7% rise for Bitcoin (BTC)
A widely followed crypto analyst analyzes three crypto assets amid sideways market action. cryptocoin.com The analyst, nicknamed Altcoin Sherpa, whose analysis we have included in his news, starts with Bitcoin (BTC). The analyst says he expects the flagship digital asset to appreciate up to 7% from its current price. The analyst’s charts suggest that after bouncing from $20,700 last week, it could face resistance around $22,500 and later at $23,500. In this context, Altcoin Sherpa uses the following statements:
BTC: Please send $22,500 – $23,000.
According to ConMarketCap data, Bitcoin was trading at $21,596 at the time of writing. The leading crypto has gained 0.68% in the last 24 hours. However, it lost 7.56% on a weekly basis. It is also about 69% off the all-time high of $69k.
Analyst unsure about Solana
Altcoin Sherpa is looking at the next scalable Blockchain Solana (SOL). The analyst says he is ‘not sure’ about the next direction of the ninth largest crypto by market cap. Since May, Solana has been priced between $31 and $47. The analyst makes the following statement:
LEFT: It’s funny how different bear market rallies can look, given the context. I’m still not sure about this.
Solana has lost 0.77% in the last day. The altcoin was trading at $35.19 at the time of writing.
Analyst says he won’t long Chiliz to $0.17
Altcoin Sherpa concludes its analysis with the Chiliz (CHZ) utility token from sports fan engagement platform Socios.com. The analyst says Chiliz is in a short-term bearish trend. He also notes that it will not be ripe for a buying opportunity until it corrects 25% from its current levels. In this context, the analyst makes the following comment:
CHZ: I wouldn’t long this to $0.17. Even then, I think it would be scalping. It pulls back as expected.
Chiliz is down nearly 13% from the four-month high it reached earlier this week. At the time of writing, the altcoin was trading at $0.2248.
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