Crypto Trader Predicts Bitcoin Rally, Updates Outlook on Solana and Chiliz – Here Are His Goals
A widely followed crypto trader analyzes three cryptoassets amid sideways market moves.
Starting with Bitcoin (BTC), pseudonymous analyst Altcoin Sherpa says his 181,600 Twitter followers that he expects the flagship digital asset to appreciate by up to 7% from today’s price.
Traders’ charts show that Bitcoin could face resistance around the $22,500 level and once again at $23,500 after the flagship crypto asset bounced from $20,700 last week.
“BTC: Send it to $22,500 – $23,000 please.”
Bitcoin is trading at $21,569 at the time of writing, having fallen by less than a percentage point in the past 24 hours.
Next up is scalable blockchain Solana (SOL). Altcoin Sherpa says that he is “uncertain” about the direction the ninth-largest crypto asset by market capitalization is likely to take next. Since May, Solana has ranged between $31 and $47.
“SOL: It’s funny how different bear market rallies can look, given the context. Still not sure about this one.”
Solana is trading at $35.72 at the time of writing, having declined 1.2% in the last day.
The pseudonymous crypto trader concludes his analysis with the utility token of sports fan engagement platform Socios.com, Chiliz (CHZ).
Altcoin Sherpa says that Chiliz is on a short-term downtrend and would not be ripe for a buying opportunity until it corrects 25% from current levels.
“CHZ: I wouldn’t long this at $0.17 and even then it would be a scalp I think. It pulls back as expected.”
Chiliz is trading at $0.227 at the time of writing, down about 13% from the four-month high it hit earlier this week.
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Featured image: Shutterstock/Yevheniia Rodina/Sol Invictus
