Analyst Forecasts Extended Rallies for Shiba Inu, Avalanche, Fantom and One Additional Crypto Asset
A widely followed crypto strategist thinks that Shiba Inu (SHIB), Avalance (AVAX), Fantom (FTM) and one more altcoin are likely not yet done rallying.
Pseudonymous analyst Altcoin Sherpa tells his 191,000 Twitter followers that meme coin Shiba Inu is likely headed to $0.000016 after taking out resistance at $0.000013.
“I like SHIB for a lot of reasons; liquidity is always great on it and it’s also volatile. Had a breakout yesterday and maybe $0.000016 is the next area I’m viewing.”
At time of writing, SHIB is trading for $0.00001423, down over 3% on the day.
Next up, Altcoin Sherpa is also looking at smart contract platform Avalanche, which he believes is likely due for bullish continuation as long as it is above $20.
“AVAX: if this flips $20, I think it goes to $30 (BTC dependent of course).”
At time of writing, AVAX is worth $20.26, down over 4% on the day.
Another altcoin on the analyst’s radar is smart contract protocol Fantom. According to Altcoin Sherpa, FTM has entered a new trading range and could soar as high as $0.90.
“Now cleaning in the range of $0.60-$0.90. Expecting $0.90ish if BTC is stable.”
At time of writing, FTM is trading at $0.57, down over 7% on the day.
The last coin on the trader’s list is LOOKS, the utility token of the Ethereum-based non-fungible token (NFT) marketplace LooksRare. According to Altcoin Sherpa, he’s targeting $0.40 for LOOKS.
“I jumped on the LooksRare train late and bought this recently. Maybe it’s a crowded trade, but I think there is still more upside for the NFT infrastructure tokens with Blur coming out. Targeting $0.40ish and wont hold onto this one super long.”
At time of writing, LOOKS is worth $0.32, down over 6% in the past 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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