A carefully adopted crypto strategist believes a red-hot altcoin challenge has extra upside potential.
Pseudonymous analyst Altcoin Sherpa tells his 206,900 followers on the social media platform X that the native token of modular blockchain Dymension (DYM) might quickly revisit larger ranges after a retracement.
“DYM: closed all of this yesterday, not going to spherical journey revenue proper now.
It’s nonetheless a bit uneven and never an enormous fan of the place BTC is. Nonetheless suppose this might go larger however going to be affected person for now.”
his chart, the dealer means that DYM is holding the $7.05 stage as help and will rally to $7.39 based mostly on Fibonacci retracement ranges.
Dymension is buying and selling at $7.11 at time of writing, up from a low of $3.54 on February sixth, a achieve of greater than 100%.
Subsequent up, the dealer predicts that the layer-1 blockchain Sui Community (SUI) will enhance greater than 10% from its present worth.
“SUI: it will hit $2 finally, really feel fairly strongly about it. Low time frames nonetheless look fairly robust and it’s essential to recollect there are all various kinds of consolidation patterns.”
his chart, the dealer means that SUI stays in an uptrend as a number of exponential transferring averages (EMAs) proceed to rise.
SUI is buying and selling for $1.81 at time of writing, up practically 7% within the final 24 hours.
Lastly, the dealer says Bitcoin (BTC) is dealing with a crucial second because it touches the $50,000 stage on Monday.
“BTC: second of fact right here. You wish to see this clearly smash by AND HAVE FOLLOW UP. If it is a fast deviation, be extraordinarily cautious. Nonetheless bullish on excessive time frames however let’s see what occurs.”
his chart, the dealer means that if Bitcoin can convincingly break the $50,000 stage it’ll stay in an uptrend, in any other case he suggests Bitcoin might appropriate right down to round $46,000.
Bitcoin is buying and selling for $49,624 at time of writing, up greater than 3% within the final 24 hours.
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