A popular crypto strategist and trader shared his predictions for what could happen for Cardano (ADA), Shiba Inu (SHIB), Terra (LUNA) and two other altcoins.
The analyst, known by the altcoin alias Sherpa, explained on Twitter that he expects a short-term rise in price after smart contract platform Cardano managed to stay above the $1.48 support.
“ADA: Not a bad place for those who want to wait a long time. The support/resistance level is also the 0.50 Fibonacci level. I wouldn’t hodl (long) it though.”
Cardano (ADA)It is trading at $1.56, down 2.85% in the last 24 hours.
Popular meme coin Shiba Inu (SHIB) Talking about it, the analyst expects SHIB to start a quick bounce before entering a downtrend if it fails to consolidate around $0.000047.
“SHIB: The short-term bottom is likely to happen. Another low high is expected to occur. That’s 0.50 [Fibonacci seviyesinde] consolidated, a more explosive move will come (But I think it will take much longer).”
SHIB is currently trading at $0.000048.
Another cryptocurrency on the investor’s list is the decentralized finance (DeFi) payment network that he says is poised to hit new record highs. Terra (Luna).
“LUNA: Still a high time frame rise [piyasa yapısı]will send it to all-time highs.”
The fourth asset on the analyst’s radar is the blockchain-based gaming ecosystem The Sandbox (SAND) it happened. Altcoin Sherpa envisions two possible scenarios for SAND after the coin prints a bearish alt-high.
“SAND: Here are my plans. Let’s see where this goes. Overall, I personally think a lower top is pressed and we’re going to drop further. If a higher bottom comes in, we’re going to have some consolidation and I’m guessing there will be another spike later on.”
The latest coin was Theta Network (THETA), a peer-to-peer distribution platform for video content. According to altcoin Sherpa, THETA could start a massive rally once it gains resistance at $9.61.
“THETA: This will be explosive when it moves. It’s been changing for quite some time and I think it usually has its own market cycle. I wouldn’t buy this for an active trade though. ”
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.