Leading smart contract platform as crypto markets rise, an analyst closely followed by the crypto community Ethereum (ETH) and predicts strong rallies for two additional altcoins.
Using the altcoin Sherpa alias, the analyst told his 180,600 Twitter followers that he believes Ethereum still has a long way to go, even though it has nearly doubled in value in less than two months.
“ETH: I expect Ethereum to eventually hit $2,200 in the medium term, but we’ll see if it can break this current support/resistance level ($1720). The longer ETH stays here, the more bullish I am in the short/medium term. I don’t believe it’s the ‘bottom’ though.”
At the time of writing, Ethereum is changing hands at $1710.
Axie Infinity (AXS)
Koinfinans.com As we reported, the next up in cryptocurrencies the Analyst reviewed is the popular blockchain-based game. Axie Infinity (AXS) exists. Altcoin Sherpa believes that Axie Infinity has the potential to start a relief rally, but is still cautious about whether AXS can actually hit its massive target.
“What do we think of such an idea? I don’t know if it has the strength to go up to $40, but if BTC stays stable, it could potentially experience a bear market rally.”
At the time of writing, AXS is trading at $18.78, roughly 135% below Altcoin Sherpa’s target of $44.
LookRare (LOOK)
The last altcoin on the investor’s radar is the non-fungible token marketplace LookRare‘s native crypto asset LOOKS. Altcoin Sherpa predicts a 50 percent rally for LOOKS as long as Bitcoin (BTC) remains relatively stable.
“LOOKS: showing some interesting price movements; The four-hour exponential moving averages all add up and go back and forth. But I think it still looks good. If BTC behaves well, I wouldn’t be surprised to see LOOKS go 50 percent or higher.”
At the time of writing, LOOKS, which is down about 2 percent, is at $0.39.
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.