A crypto strategist who continues to build a following through timely altcoin calls is outlining what to store for three digital assets, including XRP and Ethereum (ETH).
The pseudonymous analyst, Altcoin Sherpa, told his 183,100 Twitter followers that he is bullish on XRP, believing that the seventh-largest cryptocurrency by market cap will spark a decent rally in the near term.
“XRP: The Standard…
Aiming range is high. “
At the time of writing, XRP is changing hands at $0.41, up more than 8% in the past 24 hours.
Next up is Ethereum, the leading smart contract platform. According to Altcoin Sherpa, he expects ETH to correct more before potentially bottoming out and reversing its bearish trend.
“ETH: $1,000 to $1,200 next zone based on volume. Should be some nice support in this range.
Prices are fractal. You will see these types of double bottom reversals on all time frames. In my opinion, this is what a potential bottom looks like. “
At the time of writing, Ethereum is valued at $1,334, down nearly 3% on the day.
Another altcoin that traders are eyeing is Chiliz (CHZ), a platform’s native asset that aims to tokenize sports and esports to encourage fan participation. According to Altcoin Sherpa, a rally could be triggered if CHZ bulls manage to break above its immediate resistance at $0.25.
“This looks scary on all timeframes, but is still one of the top performers. A potential double top in four hours, plus this is still a resistance area. If it breaks up, in my view Come on, $0.30 is the next upside zone.”
At the time of writing, CHZ is changing hands at $0.24, down more than 3% in the past day.
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should conduct due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please note that your transfers and transactions are at your own risk and any loss you may suffer is your own responsibility. Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets and Daily Hodl is not an investment advisor. Please note that The Daily Hodl engages in affiliate marketing.
Featured Image: Sensvector/Kancut