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Widely followed crypto strategist, Ethereum (ETH) challenger Polkadot (DOT) could witness a significant haircut of 56% from current price levels before finding stability. It states that there is.
Pseudonym analyst Altcoin Sherpa tells 179,900 Twitter followers that the interoperable blockchain Polkadot can find support at significantly lower price levels.
“Dot: $ 3 to $ 5 is probably a good place to start accumulating this. Massive nodes around that. In my opinion, this chain has been a pretty big mistake so far.”
At the time of writing Dot I’m changing hands for $ 6.85.
Strategists are also looking at altcoins Cosmos (ATOM) and LooksRare (LOOKS). Altcoin Sherpa states that ATOM and LOOKS are still on a sharp downtrend, but may be able to print short-term reversal patterns.
“We haven’t seen a reversal pattern yet. You may see a double bottom of Adam and Eve, but the trend is still bearish. Suspiciously, these work, but this is a short / medium reversal. Be careful. “
Appearance Utility tokens from the Ethereum-based NFT marketplace LooksRare were trading at $ 0.27 at the time of writing, down nearly 4% on the day.
universe The blockchain ecosystem, designed for both scalability and interoperability, is currently valued at $ 8.00.
Looking at Bitcoin, a major digital asset, Altcoin Sherpa says he sees BTC staying on bear territory for extended periods of time.
“Once the bottom is found, it will take months to chop and accumulate. And the bottom may not come for a few more months from today. Hanker down due to the long bear market.”
At the time of writing BTC Worth $ 19,183.
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