Popular crypto trader predicts what’s next for Bitcoin (BTC), ApeCoin (APE), and two Ethereum-based altcoins
A popular crypto trader is sharing his outlook for Bitcoin (BTC), ApeCoin (APE) and two Ethereum (ETH)-based altcoins amid signs of a potential crypto market recovery.
As Bitcoin continues to trade above its 200-day exponential moving average (EMA), altcoin Sherpa tells its 180,700 Twitter followers that the leading virtual asset needs to hold to confirm an uptrend.
“BTC: I find this to be a key level (this and $22,000) to hold for a higher low to be considered. The last move bounced off at 0.618, which is currently around the 0.50 mark.”
Source: AltcoinSherpa/Twitter
He says that Bored Ape Yacht Club (BAYC)-linked crypto-asset APE could surge to $9.00 depending on Bitcoin and Ethereum price action. At the time of writing, APE is trading at $7.43.
“APE: If BTC and ETH remain stable, I think this will continue to move higher to $9. I’m still in my position overall, but I’ve taken some of it with me. Since the mid-$5 mark.”
Altcoin Sherpa also shares its forecast for Optimism (OP) and Lido Dao (LDO), which topped this month at $2.18 and $2.81, respectively. He says that the two altcoins will inevitably fall after the price rises. OP is currently trading at $1.86 while LDO is changing hands at $2.57.
“I think both LDO and OP are probably decent shorts, at least a hedge against all your spot holdings. High percentage probability that these are much cheaper tokens in the medium/long term. Don’t buy here in my opinion if you plan on keeping it for a while.”
Check the price action
Follow us on Twitter, Facebook and Telegram
Surf the Daily Hodl Mix
Check the latest headlines
 
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making any risky investments in Bitcoin, cryptocurrency or digital assets. Please note that you transfer and trade at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Image generated: DALLE
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.