Crypto Analyst Updates Outlook on Bitcoin, Avalanche and One Ethereum Rival That’s Soared 135% This Year

0 7

knife

A closely followed crypto analyst is updating his stance on Bitcoin (BTC) and two of Ethereum’s (ETH) biggest rivals.

The pseudonymous trader Altcoin Sherpa tells his 194,000 Twitter followers that Bitcoin is likely setting up for a pullback and that the $25,000 level probably won’t hold.

The trader says that Bitcoin bulls are probably better off waiting to buy the dip when BTC goes below $24,000.

At time of writing, Bitcoin is trading for $28,571, sideways on the week.

Looking at alternative layer-1 protocol and Ethereum rival Avalanche (AVAX), Altcoin Sherpa says AVAX is probably ready to take out resistance at $22 and enter a new trading range with a high at $30.

“AVAX: Compression on this one looks strong, I think it makes another leg up soon. 200-day EMA acted as resistance initially (as normal) but I think that this breaks $22 strongly soon.”

Image
Source: Altcoin Sherpa/Twitter

At time of writing, AVAX is worth $17.22.

Altcoin Sherpa also has his eye on Ethereum challenger Fantom (FTM), which is currently up 135% since the beginning of the year.

According to the analyst, FTM could be gearing up for a fresh rally.

“FTM: still looks pretty decent overall. I think it’s forming some sort of low here and will have another leg up.”

Image
Source: Altcoin Sherpa/Twitter

Looking at the trader’s chart, the next resistance level for FTM appears to stand at $0.60.

At time of writing, FTM is trading for $0.43.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox



Check Price Action



Follow us on Twitter, Facebook and Telegram



Surf The Daily Hodl Mix


Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Crypto Analyst Updates Outlook on Bitcoin, Avalanche and One Ethereum Rival That’s Soared 135% This Year appeared first on The Daily Hodl.

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 63,778.09
ethereum
Ethereum (ETH) $ 3,409.86
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 569.63
solana
Solana (SOL) $ 156.10
usd-coin
USDC (USDC) $ 1.00
staked-ether
Lido Staked Ether (STETH) $ 3,408.47
xrp
XRP (XRP) $ 0.571693
the-open-network
Toncoin (TON) $ 7.34
dogecoin
Dogecoin (DOGE) $ 0.122748
cardano
Cardano (ADA) $ 0.439109
tron
TRON (TRX) $ 0.134025
shiba-inu
Shiba Inu (SHIB) $ 0.000019
avalanche-2
Avalanche (AVAX) $ 27.48
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 63,845.11
polkadot
Polkadot (DOT) $ 6.32
chainlink
Chainlink (LINK) $ 14.14
bitcoin-cash
Bitcoin Cash (BCH) $ 383.66
near
NEAR Protocol (NEAR) $ 6.12
uniswap
Uniswap (UNI) $ 8.08
leo-token
LEO Token (LEO) $ 5.85
litecoin
Litecoin (LTC) $ 73.09
dai
Dai (DAI) $ 1.00
wrapped-eeth
Wrapped eETH (WEETH) $ 3,557.42
matic-network
Polygon (MATIC) $ 0.53497
pepe
Pepe (PEPE) $ 0.000012
internet-computer
Internet Computer (ICP) $ 9.57
kaspa
Kaspa (KAS) $ 0.178493
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.39
ethereum-classic
Ethereum Classic (ETC) $ 23.40
ethena-usde
Ethena USDe (USDE) $ 1.01
aptos
Aptos (APT) $ 6.88
stellar
Stellar (XLM) $ 0.10609
monero
Monero (XMR) $ 159.99
maker
Maker (MKR) $ 2,921.75
hedera-hashgraph
Hedera (HBAR) $ 0.076049
blockstack
Stacks (STX) $ 1.84
vechain
VeChain (VET) $ 0.031815
crypto-com-chain
Cronos (CRO) $ 0.094079
render-token
Render (RNDR) $ 6.45
okb
OKB (OKB) $ 42.25
cosmos
Cosmos Hub (ATOM) $ 6.46
filecoin
Filecoin (FIL) $ 4.39
mantle
Mantle (MNT) $ 0.757143
arbitrum
Arbitrum (ARB) $ 0.743365
injective-protocol
Injective (INJ) $ 23.28
immutable-x
Immutable (IMX) $ 1.46
dogwifcoin
dogwifhat (WIF) $ 2.19
sui
Sui (SUI) $ 0.844304
bittensor
Bittensor (TAO) $ 290.69
renzo-restaked-eth
Renzo Restaked ETH (EZETH) $ 3,468.36
the-graph
The Graph (GRT) $ 0.211073
first-digital-usd
First Digital USD (FDUSD) $ 1.00
optimism
Optimism (OP) $ 1.75
rocket-pool-eth
Rocket Pool ETH (RETH) $ 3,823.47
bonk
Bonk (BONK) $ 0.000027
arweave
Arweave (AR) $ 28.22
floki
FLOKI (FLOKI) $ 0.000184
mantle-staked-ether
Mantle Staked Ether (METH) $ 3,534.66
notcoin
Notcoin (NOT) $ 0.016004
lido-dao
Lido DAO (LDO) $ 1.77
aave
Aave (AAVE) $ 104.47
ondo-finance
Ondo (ONDO) $ 1.06
bitget-token
Bitget Token (BGB) $ 1.07
theta-token
Theta Network (THETA) $ 1.49
fantom
Fantom (FTM) $ 0.509903
jasmycoin
JasmyCoin (JASMY) $ 0.029528
whitebit
WhiteBIT Coin (WBT) $ 9.68
based-brett
Brett (BRETT) $ 0.136949
thorchain
THORChain (RUNE) $ 4.01
algorand
Algorand (ALGO) $ 0.157887
celestia
Celestia (TIA) $ 6.46
pyth-network
Pyth Network (PYTH) $ 0.33436
ether-fi-staked-eth
ether.fi Staked ETH (EETH) $ 3,409.85
jupiter-exchange-solana
Jupiter (JUP) $ 0.871952
coredaoorg
Core (CORE) $ 1.32
quant-network
Quant (QNT) $ 78.37
sei-network
Sei (SEI) $ 0.347494
mantra-dao
MANTRA (OM) $ 1.32
gatechain-token
Gate (GT) $ 7.66
elrond-erd-2
MultiversX (EGLD) $ 35.18
kucoin-shares
KuCoin (KCS) $ 9.62
flow
Flow (FLOW) $ 0.607142
flare-networks
Flare (FLR) $ 0.020638
kelp-dao-restaked-eth
Kelp DAO Restaked ETH (RSETH) $ 3,479.84
bittorrent
BitTorrent (BTT) $ 0.00000090424227
eos
EOS (EOS) $ 0.58491
gala
GALA (GALA) $ 0.023993
axie-infinity
Axie Infinity (AXS) $ 5.88
bitcoin-sv
Bitcoin SV (BSV) $ 43.79
beam-2
Beam (BEAM) $ 0.017196
tokenize-xchange
Tokenize Xchange (TKX) $ 10.76
ethereum-name-service
Ethereum Name Service (ENS) $ 26.86
akash-network
Akash Network (AKT) $ 3.50
dydx-chain
dYdX (DYDX) $ 1.39
msol
Marinade Staked SOL (MSOL) $ 188.30
tezos
Tezos (XTZ) $ 0.812587
popcat
Popcat (POPCAT) $ 0.812888
neo
NEO (NEO) $ 11.23
starknet
Starknet (STRK) $ 0.598013