Renowned crypto analyst Altcoin Sherpa predicts that a top-10 altcoin by market capitalization is poised to reach new all-time highs (ATHs).
Altcoin Sherpa, a pseudonymous trader with 216,700 followers on X, asserts that BNB, the native token of the BNB Chain, maintains a robust market structure.
“BNB: steady progress leads to success. Expect ATHs soon. Regret selling it during the bear market. Tough times back then.”
Analyzing the daily chart, the trader anticipates BNB to establish support above the $621.50 trading range boundary and continue its upward trajectory.
As of now, BNB is trading at $669, reflecting a 7% increase in the past 24 hours. The coin reached an ATH of $686 on May 10th, 2021.
Looking ahead, Altcoin Sherpa expresses long-term optimism for Bittensor (TAO), a decentralized blockchain platform focusing on machine learning and AI.
Nevertheless, he cautions that TAO must maintain the crucial support level of $350 to avoid a potential decline in value.
“TAO: Ideally, a consolidation between $350-$500 would strengthen its base. It may take weeks to form, providing a scaling-in opportunity. However, a breach below $350 could lead to a rapid drop below $300.”
Currently trading at $392, TAO has surged by nearly 4% in the last 24 hours.
Furthermore, Altcoin Sherpa suggests potential trading opportunities for My Neighbor Alice (ALICE), an NFT play-to-earn video game, emphasizing the importance of Fibonacci levels.
“ALICE: For short-term trades, consider buying at .382 and .50 levels. Target areas around $2.13 and $2.03 for a bounce.”
ALICE is currently priced at $2.15, marking a decline of over 10% in the last 24 hours.
Lastly, Altcoin Sherpa indicates that NOT, a community token associated with the tap-to-earn mining game Notcoin on Telegram, may have found a market bottom following a rebound from $0.0199.
Trading at $0.0240, NOT has surged by 8% in the last 24 hours.
For the latest updates, subscribe to receive email alerts directly to your inbox and stay informed about price action. Follow us on X, Facebook, and Telegram for more insights.
Disclaimer: The opinions expressed by Altcoin Sherpa are not financial advice. Investors are advised to conduct thorough research before engaging in high-risk investments involving Bitcoin, cryptocurrency, or digital assets. All trading activities are undertaken at the individual’s risk, and any resulting losses are the investor’s responsibility. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor does it provide investment advice. Please be aware that The Daily Hodl engages in affiliate marketing activities.
