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The crypto strategist, who continues to gain a following with timely altcoin calls, outlines what’s in store for three digital assets, including XRP and Ethereum (ETH).
The pseudonymous analyst Altcoin Sherpa has told his 183,100 Twitter followers that he is bullish on XRP, believing the seventh-largest cryptocurrency by market cap will ignite a decent near-term rally. I’m here.
XRP: Standard
Long range.
As of this writing, XRP is trading at $0.41, up more than 8% over the past 24 hours.
Next is Ethereum, the leading smart contract platform. According to Altcoin Sherpa, he expects his ETH to correct some more before bottoming out and reversing the bearish trend.
Ethereum: $1,000-$1,200 in the following areas depending on your volume profile. We need decent support in that range.
Price is a fractal. We see these types of double bottoms in reversals on all timeframes. In my opinion, this is how a potential bottom looks like.
At the time of writing, Ethereum is valued at $1,334, down nearly 3% on the day.
Another altcoin on traders’ radar is Chiliz (CHZ), the platform’s native asset designed to tokenize sports and esports to drive fan engagement. According to Altcoin Sherpa, the CHZ bulls could trigger a rally if they manage to break out of the immediate resistance at $0.25.
This looks horrible on all timeframes, but it is still one of the best performing coins. With a possible double top on the 4-hour timeframe, this is still resistance territory. If it goes higher, I think $0.30 will be the next upside area.
As of this writing, CHZ is trading at $0.24, down more than 3% over the past day.
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