6 altcoins, which crypto analysts Altcoin Sherpa and Dan Gambardello include in their current analysis, may offer ‘highly profitable’ opportunities in the week of April 17, which started on a dynamic basis.
Coins that offer profitable position opportunities according to Altcoin Sherpa
According to the popular crypto analyst, Chainlink (LINK), Arbitrum (ARB), Aptos (APT), Binance Coin (BNB), and Injective Protocol (INJ) make up the best altcoins to watch for profitable trading. Sherpa’s review is based on the price behavior of altcoins backed by the technical indicator based on the historical behavior of altcoins.
Chainlink (LINK)
Using the weekly chart, Sherpa showed that LINK has been in a horizontal range for almost a year. It has been in this range since May 2022, attracting a large trading volume. The recent behavior of LINK is similar to when it was trading around $2.
It then remained in a tight range for almost a year before starting a significant rally that took the price to the ATH level of $52. Sherpa believes LINK will experience a repeat of such a rally as soon as it rises above the current range.
Arbitrum (ARB)
According to Sherpa, Arbitrum is in an ideal position for potential profit. Although the altcoin is already in an established uptrend, Sherpa thinks it would be a good decision to buy from a Fibonacci support around the $1.45 price zone. This area represents a significant pullback and price consolidation, coinciding with a volume profile supporting another leg in the price rally.
cryptocoin.com We have included the latest developments surrounding ArbitrumDAO in this article.
aptos (APT)
Sherpa’s view on APT is that it would be a good decision to buy around the $11.72 price zone. He points out that consolidation is important in this area, with several EMAs converging on the daily chart.
However, Sherpa thinks that activities around Bitcoin price may affect what happens with APT. He believes that a significant drop in BTC price could cause APT to drop into the $9.62 price zone. Otherwise, the $11.72 level remains valid for a bounce.
Binance Coin (BNB)
On the weekly chart, Sherpa is identifying an area of interest that has become a major resistance against BNB price. The $345 price level represents a historically strong area for BNB and Sherpa thinks a close above this level will signal a major breakout. He predicts that a confirmed break above this zone could see BNB climb to $450 in its first leg.
Injective Protocol (INJ)
Sherpa’s selection of INJ is based on a confirmed uptrend that classifies it as one of the most bullish coins in the current market. The analyst expects INJ price to stop around $10.60 and recommends taking profits from this area.
That said, he predicts INJ is in a good position for anyone looking to take a bull run to watch out for the dips and buy them. Sherpa believes there is significant momentum in INJ’s rally that could see it moving towards higher price levels.
Dan Gambardello’s only pick: Cardano (ADA)
Another crypto analyst, Dan Gambardello, recently shared his latest technical analysis for Bitcoin (BTC) and Cardano (ADA). In the video, the analyst begins by noting that there is a lot of earnings data this week that could have a significant positive impact on the crypto market.
Regarding ADA, the analyst underlined that the price of ADA crossed the 50-week moving average and closed above it. According to Gambardello, this is an event that has not happened since 2020. The trader also stated that this event is significant because it marks a new bullish period for ADA and the broader crypto market.
The recent close above the 50-week moving average resulted in Gambardello setting his initial upside target for ADA at $0.55. The crypto analyst states that a break above this level will see ADA’s price target at $0.70 in the medium to long term.
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