Top Crypto Trader Forecasts What’s Next for Bitcoin, Ethereum and One Altcoin That’s Up Over 120% in Two Months
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Categories: Bitcoins Cryptocurrency Ethereum
Top Crypto Trader ForecastsWhat’s Next for Bitcoin, Ethereum and One Altcoin That’s Up Over 120% in TwoMonths
A popular analyst is setting updatedprice targets for a trio of cryptocurrencies as the markets headinto the weekend. The pseudonymous crypto trader Altcoin Sherpafirst examines the possibility that Bitcoin (BTC) is in an accumulation phaseand priming for a major rally in the coming weeks, but cautions his 182,600Twitter followers that prevailing bearish sentiment makes this hypothesisunlikely.
The analyst says he is intentlywatching the $19,000 level as a zone of strong support for BTC but warnsinexperienced traders against investing in Bitcoin at that price.
Bitcoin’s pricewent on a roller-coaster ride all week,currently priced at $19,920. Altcoin Sherpa next analyzes themid-August price surge that briefly sent Ethereum (ETH) back above $2,000. He’seyeing $1,730 as a possible make-or-break zone for the leading smart contractplatform.
The analyst next provides a chart plotting out Ethereum’sexponential moving averages (EMAs) meandering through four-hour candles datingback to early July. He foresees a breakout past $1,800 but remains unsure whereETH will go afterward.
Ethereum saw a mostly positive week oftrading and quickly rebounded from a dip below $1,500 last Sunday. ETHis currently priced at $1,573.Last on the chart expert’s list is Chiliz (CHZ),the utility token of sports fan engagement platform Socios.com which has beenon an incredible run over the past weeks. The CHZ token is up over 130% sinceearly July.
Altcoin Sherpa believes Chiliz will inevitably haveto retrace after such a big rally but adds that he’s not willing to bet againstthe altcoin just yet.
Altcoin Sherpa, cryptocurrencies, BTC price, ETH price, CHZ token, EMAs, Utility Token