The crypto market today is gay and green as bulls seem to have enforced control. BTC has hit the long awaited $50K, it is now to be watched how well it holds up. ETH has resurfaced above $4K yet again. Winners of the race are lesser known tokens CRO, ALGO and NEAR with 10+% gains.
On the back of a bullish market, the Metaverse tokens and NFT backed tokens are expected to rise exponentially.
One metaverse token and two additional altcoins, according to a widely recognised crypto expert, are poised to explode.
Altcoin Sherpa, a pseudonymous analyst with followers, claims that SAND, the native token of the virtual environment The Sandbox, has excellent technicals that might spark a second wave of metaverse rallies.
“SAND: This chart looks excellent IMO. Metaverse pump #2 coming soon? I think this is a good passive swing trade.”
At the time of writing, SAND is trading at $6.23 up by 13% in the last 24 hours. The resistance on the upside is at $6.46 and the support on the downside is at $5.5.
Fantom, an open-source smart contract platform, is next on Altcoin Sherpa’s radar (FTM). FTM, according to the analyst, is offering a great opportunity for long entries.
He says he has been eyeing this trade for a few days now, and he needs to just dump money into it. This position right now in his opinion, is ideal for an entry.
At the time of writing, FTM is trading at $2.09 up by 17.9% in the last 24 hours. The resistance on the upside is at $2.2 and the support on the downside is at $1.75.
Woo Network (WOO)
WOO, Woo Network’s native token, is also on Sherpa’s radar (WOO). Woo Network is a “deep liquidity” platform that provides democratised access to low-cost liquidity and trading execution to traders, exchanges, institutions, and decentralised finance (DeFi) platforms.
WOO is showing characteristics of a typical bullish market structure, having hit a higher high at approximately $1.70 and now a potential higher low at around $0.80.
He still believes this is a bullish market structure, and the lows have just been established. “Let’s go up now that we’ve reached higher lows. “I’m still clutching my suitcase.” He said.
At the time of writing, WOO is trading at $0.892 down by 0.6% in the last 24 hours. The resistance on the upside is at $0.95 and the support is at $0.80.