Popular Crypto Trader Forecasts What’s Next for Bitcoin (BTC), ApeCoin (APE) and Two Ethereum-Based Altcoins
A widely followed crypto trader shares his outlook for Bitcoin (BTC), ApeCoin (APE) and two Ethereum (ETH)-based altcoins amid signs of potential recovery for the crypto market.
As Bitcoin continues to trade above its 200-day exponential moving average (EMA), Altcoin Sherpa tells his 180,700 Twitter followers that the leading virtual asset needs to hold to confirm an uptrend.
“BTC: I think this is a key level (this and $22,000) that needs to be held for a higher low to be considered. The last move bounced at .618, this is currently around the .50 level.”
He says that the Bored Ape Yacht Club (BAYC) associated crypto asset APE could rise to $9.00 depending on the price movement of Bitcoin and Ethereum. At the time of writing, APE is trading at $7.43.
“APE: If BTC and ETH stay stable, I think this continues to grind up to $9. I’m still in my position overall, but I’ve already taken some profit. In since the mid $5s.”
Altcoin Sherpa also shares his forecast for Optimism (OP) and Lido Dao (LDO), which peaked at $2.18 and $2.81 respectively this month. He says that the two altcoins are going to go down after the price increase. 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 % chance these are much cheaper tokens in the medium/long term. Don’t buy here if you plan to hold for a while , in my opinion.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are 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.
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