While the cryptocurrency market is consolidating, it is having a quiet weekend with exceptions. A recently launched gaming altcoin has a lot of upside potential, says a crypto analyst with a large following. However, the analyst does not see any hope for AVAX and TIA Coin for now.
Analyst predicts PIXEL will bounce!
cryptokoin.comAs you follow from , the market is having a quiet weekend after a tiring week. Leading cryptocurrency Bitcoin is consolidating around $51,000. In this environment, the popular analyst nicknamed Altcoin Sherpa shared his latest market predictions. Web3 gaming coin Pixels (PIXEL) will likely bounce from its current value, analyst says. In this context, the analyst makes the following statement:
PIXEL: I think this is a good trade, but it is a trade you should buy on the spot. That’s because I’m pretty sure this will be pretty good; most new coins do this (low float / market makers will pump / etc). Also, this is a Binance launchpad project, so I expect good things. However, further downside is certainly possible. Therefore you should accept a decline. This is a difficult thing for most people to do when they are leveraged. I think buy spot here, DCA (dollar cost averaging) down and then wait a week or two and sell higher. In a place with difficult entry/exit, maybe $0.49 again.
Based on its chart, the analyst predicts that PIXEL will likely continue trading above the $0.46 support level. Meanwhile, PIXEL was trading at $0.51 at the time of writing, down approximately 0.46% in the last 24 hours.
Altcoin Sherpa: AVAX is forming a bearish formation!
Next, the analyst looks at Ethereum (ETH) rival Avalanche (AVAX). Altcoin Sherpa warns that AVAX is forming a bearish formation. Based on this, he makes the following assessment:
I’m not saying this is happening, but it will be important to see where the next overhead low is printed for some of these altcoin charts. Check out coins like AVAX: If this is a recent low and we get lower (see $26 being mined), I think it could be scary overall.
Meanwhile, AVAX was trading at $36.6 at the time of writing, up 0.9% in the last 24 hours. However, the token lost approximately 8% in value last week. The network outage he experienced was also effective in this.
“The release for TIA Coin will take some time!”
Finally, the analyst believes it may be some time before there is a launch for Celestia (TIA Coin), a blockchain built to enable anyone to launch their own decentralized networks at minimal cost. He explains his predictions about TIA Coin as follows:
TIA: More than 40 days of consolidation, just chilling. It’s not a very active process; buying more and holding for further upside. Personally, I would probably pass on buying at this level.
Meanwhile, TIA Coin was changing hands at $16.53, up 2.1% in the last 24 hours. However, TIA Coin lost approximately 11.5% in value last week.
To be informed about the latest developments, follow us twitter‘in, Facebookin and InstagramFollow on and Telegram And YouTube Join our channel!