The crypto market currently is bearish as bulls failed to hold up. In tandem with Bitcoin altcoins have sinked and are trading sideways mostly. Major losers being SOL-down 8%, SHIB- down 7.1%, DOT- down 6%, and ADA down 5.5%.
While the market fails to recover, Pseudonymous trader Altcoin Sherpa is making predictions for some promising altcoins on the block
Altcoin Sherpa informs his Twitter followers that he expects Avalanche (AVAX) to keep rising toward his $130 target.
He notes that decent volume is coming in overall. Although the 4 hour market structure is still bearish, AVAX is a big bag for the trader as he mentions.
AVAX/USD moved in a range of $102.22 to $112.90 over the last 24 hours, exhibiting significant market volatility. The entire trading volume has decreased by 9.24 percent to $1.15 billion. The trend has been bearish and the support on the downside is at $100.
Polkadot, an interoperable blockchain, is another coin on the trader’s list (DOT). Polkadot is destined for a recovery to $35 before resuming its downturn, according to the crypto expert.
“$24 better continue to hold or this thing is going to goblin town. I still think it will and I think that it eventually makes some sort of lower high.”
From its current price of $24.62, a climb to Altcoin Sherpa’s target offers a potential upside of almost 42 percent for DOT.
The coin has been trading in the range of $23-$25 over the past 24 hours. The trend is currently bearish and the support on the downside is at $20 and $18 further. However, in case of an upward run, the resistance is at $30 and $32 subsequently.
Fantom (FTM), a network of specialized blockchains aimed at powering smart cities, is next. FTM is carving a bottom at $1.40, according to Altcoin Sherpa, which will lay the stage for a surge to $2.80.
He says it is a great swing trade entry. He would personally hold out for some other coins/trades. However, there is a lot of confluence in this area, he mentions.
FTM is trading in the range of $1.32-$1.45.
It has dipped 7.1% in the last 24 hours.
Curve (CRV), the governance token of stablecoin-focused decentralized exchange Curve Finance, is the last coin on the trader’s radar. According to the crypto expert, CRV is now in a position to surpass its all-time high of $6.39 set in 2021.
He thinks the token looks quite robust, as one of the few strong ETH DeFi coins.”That said, resistance is on the way; I’d wait for a break of that first,” he added.
CRV is trading bearish today down by 9.8% in the last 24 hours. The support on the downside is at $3.7 and the resistance is at $4.