A prominent crypto analyst has charted assets to see if there is a rally ahead of a trio of crypto assets containing different types of coins. examined.
bitcoin
The crypto trader, using the altcoin Sherpa alias, tells his 174,200 Twitter followers that he believes the leading cryptocurrency can surpass the $55,000 level if Bitcoin (BTC) can sustain the higher low trend that stretched back to late February.
“As long as these lows are maintained and we’re still seeing higher lows, I think the bullish market structure is intact.
I am still waiting above the $55,000 level in the coming weeks.”
Bitcoin (BTC), which has been traded at $ 38,743 with an increase of 1.4 percent in the last 24 hours, has not been able to exceed $ 50,000 since December 27 of last year.
wither
Next on the list of coins that the successful trader expects to rally, he examines data from the continuous futures chart of the layer-1 blockchain protocol Solana, dating back to early March.
After Solana largely corrected itself after gains as a result of its impressive rally in early April, Sherpa believes the smart contract platform has bottomed out in concert with Bitcoin before another boom.
“I continue to believe that this has created a bottom. I expect further declines followed by another increase following BTC. ”
Solana is currently trading at $96.99, up about 1 percent on the day. SOL is down more than 40 percent from its monthly high of $140.30 reached on April 2.
ApeCoin
Altcoin Sherpa is a crypto asset created by Yuga Labs, co-founders of the popular Bored Ape Yacht Club (BAYC). ApeCoin (APE) he’s watching too.
While ApeCoin has witnessed a series of rallies since its launch on March 17, the charter says traditional technical analysis (TA) really doesn’t work when applied to assets like APE. Sherpa prefers to measure popular sentiment on such assets and use a broader fundamental analysis (FA) instead.
“TA is generally not applicable to such cryptocurrencies; it is necessary to look at more momentum and the overall FA associated with it.
Personally [APE’i] I wouldn’t short and I prefer to invest when it starts going down. As a scalper, I would consider longing at $17.80.”
ApeCoin has witnessed two dramatic price increases over the past 10 days. The Metaverse cryptocurrency rallied to $16.81 on the 20th, up 43.9 percent from the $11.68 level it first stood on April 17, before correcting.
APE, which started to recover slowly, reached $ 19.40 with an increase of 15.5 percent a day after the level of $ 16.79 on April 24. Currently, the altcoin recently hit an all-time high at $19.73 and is trading at $19.61 at the time of writing.
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.