The cryptocurrency market continues to gain strength as inflows into spot Bitcoin ETFs increase. Leading crypto Bitcoin is hovering around $52,000 in weekend trading. The altcoin market is going through a consolidation process. A popular crypto analyst says that an artificial intelligence (AI)-focused project will remain in an uptrend for months. The analyst also predicts further upside for Bitcoin and LINK.
Analyst predicts FET will rally much higher
cryptokoin.comAs you can see from , the crypto market is in good spirits. Many analysts and experts argue that the winter market is now behind us. Traders are preparing for a new bull run. The analyst, nicknamed Altcoin Sherpa, shared his latest predictions with his followers on the social media platform X. Decentralized AI platform for apps Fetch.ai (FET) could rally “much higher” than its current valuation, analyst says. In this context, the analyst makes the following statement:
FET: still looks good and is entering a resistance area. I think it will go much higher in the coming months. However, here – $1 looks questionable in terms of entry.
According to his chart, the analyst suggests that FET’s next key resistance level is at $0.76 after bouncing from $0.55, which was the upper end of the previous trading range. Meanwhile, FET was trading at $0.705 at the time of writing, up 0.2% in the last 24 hours. In addition, the cryptocurrency recorded a 14.5% increase on its weekly chart.
Altcoin Sherpa: Now there is a target of $58 thousand for the leading cryptocurrency!
The analyst then looks at the leading cryptocurrency Bitcoin (BTC). Altcoin Sherpa predicts that BTC will soon reach the $58,000 level. In this regard, the analyst shares the following assessment:
BTC: next area of interest is likely $58,000 region; the price has struggled to stay above that for weeks in 2021 (oh, how time flies). I expect some sort of pullback around here. However, I have full faith that ATH (all-time high) will be crushed (eventually).
Bitcoin was trading at $51,569 during this summer. The leading cryptocurrency has seen a 1.5% decline in the last 24 hours. However, ldier cryptocurrency gained over 9% on its weekly chart.
“LINK will eventually rise, but…”
Finally, the analyst says that decentralized oracle network Chainlink (LINK) will eventually move higher. In this context, Altcoin Sherpa makes the following statement.
LINK: Things still look good for LINK on the HTF (high time frame). I think this will continue to rise in the long run. But for short term trading I don’t really like it. Volatility is a bit low (but liquidity is good).
Meanwhile, LINK was trading at $19.58 at the time of writing, down nearly 3% in the last 24 hours. However, the cryptocurrency gained over 7% on its weekly chart.
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