A closely followed crypto analyst says a mid-cap altcoin is poised for a significant rise in price. The analyst also predicts collapse for two altcoins. Finally, the leading cryptocurrency is updating its outlook for Bitcoin.
LINK will achieve big numbers in the next cycle!
cryptokoin.comAs you follow from , the market is back in the green zone. The master analyst, nicknamed Altcoin Sherpa, shared his latest predictions with his 196,300 followers on the social media platform X. Blockchain oracle Chainlink (LINK) will likely break out of a months-long trading range in the next bull market cycle, analyst says. In this context, the analyst makes the following statement:
LINK: 500 days of savings is good for one of the best altcoin projects that forms the basic infrastructure of thousands of projects. I think LINK will achieve big numbers in the next cycle. It’s probably one of the few I’ll keep. However, it is not a good trading tool right now.
On the analyst’s chart, LINK has been trading in a range with an upper bound of $9.33 and a lower bound of $5.52 since May 2022.
Altcoin Sherpa: Bitcoin will follow this route
Next, the analyst looks at the leading cryptocurrency Bitcoin (BTC). Altcoin Sherpa predicts that BTC will likely surpass the 200-day simple moving average (SMA). The analyst says this is a bullish sign. In this regard, the analyst said, “BTC: wants to see a four-hour close and continuation above. “A retest would actually be healthy.” says.
Looking at its chart, the analyst predicts that Bitcoin will likely rise to $26,700. After this, it suggests that it will retest the $26,300 level before continuing to rise to $28,000 by September 18. Meanwhile, Bitcoin was trading at $26,666 at the time of writing, up 1.3% in the last 24 hours.
MATIC will collapse due to lack of interest!
The analyst also focuses on scaling solution Polygon (MATIC). He predicts that if Polygon loses support at $0.50, it could fall more than 42% due to lack of commercial interest. In this regard, the analyst shares the following assessment:
MATIC: I’m honestly not sure why anyone would buy this. IMO (in my opinion) it’s back to the $0.30-0.45 region.
Meanwhile, MATIC was trading at $0.52 at the time of writing, up 1.3% in the last 24 hours.
Analyst predicts collapse for this altcoin
Finally, Altcoin Sherpa predicts that the Bored Ape Yacht Club community ApeCoin (APE) will crash as its native token retests the $1.14 level. The analyst expresses his views on this issue as follows:
APE: This is why you don’t generally lock coins. This is the last stand for this sh.tcoin. If you enjoy catching with a knife it might be worth a try. However, I don’t see any narrative or reason for this to rise. The NFT (non-fungible token) market is currently dead.
APE was trading at $1.14 at the time of writing, up 0.1% in the last 24 hours.
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