A carefully adopted crypto strategist believes a red-hot altcoin venture 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) may 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 assume this might go larger however going to be affected person for now.”
Taking a look at his chart, the dealer means that DYM is holding the $7.05 stage as help and will rally to $7.39 primarily based 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 acquire 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 ultimately, really feel fairly strongly about it. Low time frames nonetheless look fairly sturdy and it’s vital to recollect there are all several types of consolidation patterns.”
Taking a look at his chart, the dealer means that SUI stays in an uptrend as a number of exponential shifting averages (EMAs) proceed to rise.
SUI is buying and selling for $1.81 at time of writing, up almost 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 means of AND HAVE FOLLOW UP. If this can be a fast deviation, be extraordinarily cautious. Nonetheless bullish on excessive time frames however let’s see what occurs.”
Taking a look at 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 may 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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