Here’s what’s next for Bitcoin, Ethereum, Binance Coin and a leading Dogecoin rival, according to Crypto Trader
A popular analyst provides price target updates for a handful of cryptoassets as markets scramble to end the week in positive territory.
The pseudonymous trader known as Altcoin Sherpa says his 181,400 Twitter followers that after a week of choppy downward price movements, he still believes Bitcoin (BTC) has enough strength to recapture $28,000 in the near future.
“Still expect this low to hold until further notice. Would like to see a sustainable higher high coming, will still assume $28,000 is coming until something else is shown.”
Bitcoin is trading itself on the day, but at $23,430 it is still down 7% from its weekly peak of $25,203.
The map guru next investigating The Ethereum (ETH) vs. Bitcoin trading pair draws attention to May 2021 and January of this year where ETH was also worth around 0.082400 BTC.
“What do we think, will this go to the top? ETH/BTC has continued to show incredible strength.
While I think most of the merger narrative is done, this could still go to the top.”
Ethereum is currently up 2.45% and is trading at $1,866, while against Bitcoin it is worth 0.078573 BTC.
Next on the analyst’s radar is BNB, the native token of the popular crypto exchange Binance. Altcoin Sherpa highlights the $260 to $322 price range dating back to last October, while he says he is looking at a potential drop back to around $250.
“Mid-$200s might be interesting here on this one, it’s still one of the best performing altos overall.”
Over the past few days, BNB has slowly given up some of the big gains they made from late July to the weekend. It is down 7.7% from Sunday’s high of $331.08 and is currently trading at $305.39.
Moving on to dog-themed meme coin Shiba Inu (SHIB), the analyst says that he expects another rally from the Dogecoin (DOGE) competitor if Bitcoin and Ethereum do not falter.
“I’m still in my position and I still believe another stage will come as long as BTC and ETH remain stable.”
At the time of writing, Shiba Inu is down almost 5% and priced at $0.000015. The altcoin surged 80% between August 9 and 14, rising from $0.000010 to $0.000018 before correcting.
Last up is Optimism (OP), a layer-2 scaling solution for Ethereum. The crypto strategist follow up on his recent call to short the altcoin after it rallied significantly during July, now saying he expects the price to fall below a dollar.
“Squiggly is playing as planned. Unfortunately, I wasn’t paying attention and didn’t do my brief.
Maybe expect another scumbag around here if ETH and BTC hold their own before further nukage. This thing costs $1>, easily short in my opinion.”
Optimism was valued below $0.50 in mid-July before a series of rallies sent it as high as $2.24 on August 3.
The altcoin has since slowly worked its way down, currently in the red by 2.42% in the last 24 hours with a price suggestion of $1.33.
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