A popular cryptocurrency analyst said he expects big booms for altcoins competing with the leading smart contract platform, Ethereum (ETH).
Known by the alias Altcoin Sherpa, the trader has 169,500 Twitter followers, a blockchain ecosystem designed for both scalability and interoperability. cosmos‘from (ATOM) He announced that he was expecting big things.
The analyst also says that the project builds on the Blockchain Inter-Channel Communication protocol (IBC), which went live in April of last year, and believes ATOM will be among the top-performing cryptocurrencies in 2022.
“I’m probably late to the party on this one, but I really believe Cosmos is going to have a great 2022.
There is a lot of interesting stuff being built on the platform and there will be a lot more to say about IBC going forward. I believe this is an altcoin to watch out for in the future.”
Sherpa ends his predictions on ATOM with a warning about what could happen if the price of the largest cryptocurrency Bitcoin (BTC) drops dramatically:
“In terms of technical analysis, EMAs [üstel hareketli ortalamalar] I believe the trend is bullish on the lower timeframes as we see it trending bullish/bulllish.”
For now, the EQ of the range is holding, but if BTC suffers a dramatic drop, it will revert to the lower ranges.”
Cosmos is trading at $30.03 at the time of writing, down over 11 percent in the last 24 hours following the market’s downtrend. While the market is currently in the red, ATOM has rebounded impressively since the general crypto markets crashed again on Feb. 24, gaining nearly 40 percent.
Smart contract platform terra‘from (LUNA) Also mentioning Altcoin Sherpa, he points out an entry point at $77 in case the altcoin’s price corrects again.
“LUNA is a good coin to long at $77 for several reasons: [Atom] Altcoins like these will be the first to be caught in such environments.
They also have incredible bullish potential when they are near all-time highs (price discovery levels).”
Terra was currently riding a wave of positive momentum as its valuation surged more than 23 percent over the week from $73.66 to $90.73 before slipping 7 percent into the downtrend that dominated markets over the weekend. At the time of writing, the altcoin is trading at $85.25.
crypto analyst, Bitcoin (BTC) He also completes his crypto prediction by considering where he thinks the price is going. Sherpa says BTC appears to be in a good position to long.
“The higher timeframe is still bearish but if you are using the EMA, that is a support area on the lower timeframes… I personally think this level is a good area to long.”
After climbing vertically from $38,000 to $44,000 at the start of the week, Bitcoin has had some corrections over the past few days, but over the weekend it was again on a downtrend, dropping over 6 percent from the last 24 hours to $39,061.
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.