A intently adopted crypto strategist says that one altcoin with a market cap of $1.934 billion appears something however bullish.
Pseudonymous dealer Altcoin Sherpa tells his 196,800 followers on the social media platform X that the native asset of the interoperable blockchain ecosystem Cosmos (ATOM) seems poised for extra draw back value motion.
ATOM, which is down about 60% from its 2023 excessive of $15.45, will possible drop all the way in which right down to $5.50 earlier than witnessing a reduction rally, in response to the analyst.
“ATOM: I do know the Dapp (decentralized purposes) chain future is massive however man, that is one ugly chart. I don’t see any reduction till the mid-$5s in truth… That ought to be a good bounce space. Nonetheless no cause to purchase this one although, in my view.”
At time of writing, ATOM is buying and selling for $6.61.
Altcoin Sherpa can also be watching the worth motion of Ethereum (ETH) rival Solana (SOL). The analyst says that for now, SOL is trapped in a large buying and selling vary between $16 and $27.
“SOL: haven’t checked this chart in a bit. I don’t see any actual change within the greater timeframe charts. I feel that it’s nonetheless only a vary between $16-$27 and a few deviations on each ends. Greatest to in all probability simply purchase and maintain this for a bit.”
At time of writing, SOL is price $22.10.
One other altcoin on the dealer’s radar is the native asset of the decentralized pool buying and selling platform Woo Community (WOO). Altcoin Sherpa shares a chart suggesting that WOO stays in a sideways pattern with assist at round $0.147.
“WOO: nice mission/trade total, had some excellent news just lately with them burning the 3AC (Three Arrows Capital) tokens and that provide being gone. I nonetheless don’t actually see this as a purchase at this present time however in all probability a good longer-term funding.
(I’m holding a long-term bag of this).”
At time of writing, WOO is buying and selling at $0.178.
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