Crypto Analyst Predicts Blue-Chip Altcoin Will Experience Record Highs Soon, Provides Updates on Three Other Coins
Renowned crypto analyst Altcoin Sherpa has made a bold prediction, stating that a top-10 altcoin by market capitalization is likely to reach new all-time highs (ATHs) in the near future. In a recent post on social media platform X, Altcoin Sherpa, who has a following of over 216,700 users, expressed confidence in BNB, the native token of the BNB Chain, citing its strong market structure.
Altcoin Sherpa referred to BNB’s current price action and emphasized that it is on the cusp of surpassing the upper limit of a trading range at $621.50. Should BNB successfully flip this level into support, the analyst anticipates a continuation of its upward trajectory. At the time of writing, BNB is trading at $669, marking a more than 7% increase in the past 24 hours. It is worth noting that BNB reached an ATH of $686 on May 10th, 2021.
In addition to BNB, Altcoin Sherpa also provided insights on three other coins. The analyst holds a long-term bullish outlook on Bittensor (TAO), a decentralized blockchain platform specializing in machine learning and artificial intelligence (AI). However, Altcoin Sherpa warned that TAO must maintain its crucial support level at $350; failure to do so could result in a significant decline in value. Currently, TAO is trading at $392, experiencing an increase of nearly 4% in the last 24 hours.
Altcoin Sherpa also discussed My Neighbor Alice (ALICE), a non-fungible token (NFT) play-to-earn video game. The analyst suggested that ALICE might retest lower Fibonacci levels before experiencing a rebound. For those looking to scalp, Altcoin Sherpa highlighted the potential for profitable trades at the .382 and .50 Fibonacci levels, with $2.13 and $2.03 identified as reasonable areas to place bids. ALICE is currently trading at $2.15, representing a decline of over 10% in the last 24 hours.
Lastly, Altcoin Sherpa addressed NOT, a community token used in the popular Telegram-based tap-to-earn mining game Notcoin. The analyst proposed that NOT may have already established a market bottom after bouncing back from $0.0199. Presently, NOT is trading at $0.0240, reflecting an 8% increase in the last 24 hours.
It is important to note that crypto markets can be highly volatile, and investments should be made based on thorough research and careful consideration of individual risk tolerance.