A widely followed crypto analyst predicts that Dogecoin (DOGE) rival Shiba Inu (SHIB) and an Ethereum (ETH) rival will have strong rallies in the next market cycle.
Analyst alias Altcoin Sherpa told his 172,000 Twitter followers that a Shiba Inu (SHIB) stock is sitting above him and he expects a price boom. According to the trader’s analysis, the Shiba Inu (SHIB) is trading in a wedge pattern that signals a potential breakout.
“I still have my savings and I’m still going with the DCA (investing a certain amount regularly regardless of the price of the asset) and just the average (at cost) plan. I still believe that at the end of this cycle it will be difficult. It may be wrong, but we’ll see. I’ll wait and hold a little.”
Altcoin Sherpa, unlike other analysts who think the broader crypto markets have ended their bull cycle, believes that altcoins are on another rally and that Bitcoin (BTC) will eventually stabilize. thinks.
The closely followed trader is also reviewing the decentralized application platform Near Protocol (NEAR). According to him, NEAR will be one of the strongest players when the markets wake up.
“If you believe this is still one of the strongest players, then I think $15 (and those levels) is fine for DCA. I personally do it and will hold it to all-time highs in the past.”
As for Ethereum (ETH), Altcoin Sherpa is taking an opposite stance in an environment of cautious market sentiment. He thinks ETH’s chart looks strong as it holds the 200-day exponential moving average (EMA) as support.
“I think people get overly emotional. I still think this painting looks pretty good. 200-day EMA is still one-day [grafik] supports the bullish market structure. I still think this is good. Buy from the bottom.”
You can check the price movements 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.