A popular crypto strategist and trader; Polkadot (DOT), The Sandbox (SAND) and shared a map of the levels at which three other low-value altcoins could bounce off and potentially undermine.
Altcoin Sherpa A crypto analyst, known by the pseudonym, spoke on his Twitter account, which has 152,000 followers. The analyst noted that the interoperable blockchain Polkadot (DOT) could see an influx of demand once it reaches the 200-day exponential moving average (EMA), which is currently hovering at $32.
“DOT: It is expected to consolidate even longer in the $30-40 range. The 200-day EMA should be supported at this stage.”
Blockchain based gaming ecosystem The Sandbox (SAND) An analyst who also shares his views on He explained that he expects SAND to offer an entry opportunity of around $5.
“I will probably buy at the bottom. The strongest coins are recovered the fastest.”
The third altcoin on the list is the cryptocurrency that powers the Crypto.com payment, trading and financial services platform. CRO it happened. According to altcoin Sherpa, a lower timeframe support could provide some relief for the CRO.
“CRO: I’m patiently waiting for $0.60.”
Another cryptocurrency on Altcoin Sherpa’s list is a privacy-first smart contract platform for open finance. Oasis Network (ROSE) it happened. Saying that he expects ROSE to find a bottom around $0.29, the analyst said:
“to 0.618 [Fibonacci seviyesi] good first response. If it continues strong, this is likely to make a lower high. I would rather see this consolidation at 0.618 a bit and then build a solid base to continue.”
The last altcoin on the list is the payment infrastructure platform. COTI it happened. The analyst noted that COTI currently respects the 200-day EMA ($0.37) as the support level, but underlined that a new selling pressure could bring the price down to $0.30.
“The first good touch of the 200-day EMA. I think it will make a short-term bottom at these levels. 0.618 though [Fibonacci seviyesinde] more support appears.”
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.