Analyst Predicts Rallies for Two of Ethereums Biggest Rivals, Says Bitcoin Could Bounce Harder Than Traders Think

Popular analysts are predicting when and when the three cryptos will be able to break out of the protracted downtrend in the market and achieve a short-term recovery.

Pseudonym Crypto Trader Altcoin Sherpa To tell His 180,000 Twitter followers aren’t encouraged by altcoin in high hours every day from 1 hour [HTF] As for the chart, I think there is a possibility of a temporary upside for a particular project.

Sherpa believes that both Cosmos (ATOM) and the Layer 1 scaling solution NEAR Protocol (NEAR) work well.

“The HTF market structure is still incredibly bearish for many altcoins, but I think it will rise in the short term when we see a little more chop / grind + these bottom type patterns in place.

Some potential double bottoms /[cup and handle]/etc. The type of chart that is there for now. “

At the time of writing, Cosmos has risen 4.33% in the last 24 hours and is trading at $ 9.06.

The next Altcoin Sherpa introduces Ethereum (ETH) competitor NEAR.

The NEAR protocol is as low as 2% on the day and the asking price is $ 3.44.

Market capitalization Bitcoin (BTC) moves to the largest crypto asset by Altcoin Sherpa To tell Despite Bitcoin’s downtrend for more than six months, he predicts another BTC rally that reflects the rise in late March and early April.

“Every single integration brought a breakdown of the charts for the high timeframe. Is it the same again?

There is another bear market rally similar to March / April 2022. I don’t know when / where it happens (or how expensive it is). “

Analysts then To tell His 10,300 YouTube subscribers believe Bitcoin could reach as much as $ 30,000 during the next rise.

“You are really looking for a potentially bear market rise, where prices can rise sharper than you think.

It may look like a move up to $ 30,000. I don’t know if it has the power to stand up there, but it’s the scenario I’m looking at. “

Altcoin Sherpa concludes by identifying $ 12,000 as a potential bear cycle for Bitcoin, and the price of BTC could ultimately be determined by the stock market as well as its benefits and demand. I added that there is.

“This last kind of bearish retest we saw in late March was one of the last real bearish retests we saw. Everything else was integration, breakdown, integration, breakdown. Now we are working on integration.

We could certainly see another breakdown at $ 12,000 or anywhere. But there will be another bear market backlash, I don’t know what it will look like or how strong it will be, but as I said, it will really depend heavily on stocks. I think.

Unfortunately, that’s exactly what it is. “

Bitcoin is currently up 2.12% in the last 24 hours and is changing trading at $ 20,400.

Me

Me

Check price action

Don’t miss the beat subscribe and deliver encrypted email alerts directly to your inbox

follow me twitter, Facebook When telegram

Surf the daily hoddle mix

& Nbsp

Check the latest news headlines

& Nbsp

Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors need to do due diligence before making risky investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfer and transaction is your own responsibility and any loss you may incur is your responsibility. Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets. Also, Daily Hodl is not an investment advisor. Please note that TheDailyHodl participates in affiliate marketing.

Featured image: Shutterstock / vvaldmann