Altcoin Sherpa, one of the popular names in the crypto world, shared his views on the three coins he believes to be close to starting a rally, albeit short-term, and his predictions on the rally history.
Sharing his views on his Twitter account with over 180,000 followers, Altcoin Sherpa shared his prediction that he believes could temporarily create upside potential for certain altcoins on hourly to daily high timeframe (HTF) charts.
Sherpa, both cosmosHe noted that both ATOM (ATOM) and the Layer-1 scaling solution NEAR Protocol (NEAR) offer a price chart where they can succeed.
“The HTF market structure remains bearish for many altcoins, but if we can see some fluctuation in the chart, I believe we can see a bullish, albeit short-lived. Some potential double bottoms (cup and handle) etc. We can see things like that.”
At the time of writing, Cosmos had lost some value in the last 24 hours to trade at $8.87.
The second altcoin on the list is Ethereum rival layer-1 scaling solution. NEAR ProtocolIt is currently trading at $3.44 and is slightly higher.
Altcoin Sherpa thinks there may be another BTC rally reflecting its rally in late March and early April, despite Bitcoin’s more than six-month downtrend as it moves into the largest crypto asset by market cap Bitcoin (BTC).
“Each consolidation resulted in a breakout on the higher timeframe charts. Will it be the same this time? I think there will be another bear market rally similar to March/April 2022. I don’t know when, where or how high it will be.”
The analyst later posted on his YouTube account during the next uptrend. bitcoinHe shared an estimate that he thinks could go as high as $30,000.
“Really, we’re looking for a potentially bear market rally where the price will potentially go up more than you think. We can see it as a move up to the $30,000 level. I don’t know if he has the strength to get there, but that’s the scenario I’m following.”
Altcoin Sherpa concluded by designating $12,000 as a low potential bear cycle for Bitcoin, before adding that BTC could ultimately only be determined by equity markets rather than its value or demand.
Bitcoin is currently trading around the last $20,070.
You can follow the current price action here.
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.