The famous cryptocurrency analyst, known by the pseudonym Altcoin Sherpa, made statements to his 174,500 Twitter followers about 4 altcoin projects. According to the analyst, these 4 altcoins that he has listed may experience huge price increases in the coming weeks. As Kriptokoin.com, we convey the views of the analyst and the 4 altcoins in the list.
Here are the 4 altcoins
on the analyst’s list. First on the analyst’s list is Terra (LUNA). Terra allows LUNA token holders to pay network fees, participate in governance, staking in the Proof of Stake consensus mechanism, and index stablecoins. The analyst explained that LUNA is very close to forming a local bottom and said:
LUNA: There is still enough distance from this level to maintain the 200-day exponential moving average as support, but this area has been covered several times before. tested. A sudden break below the $60 levels will not be a problem for this to perhaps bottom out.
Another altcoin on the analyst’s list is NEAR Protocol (NEAR). NEAR Protocol is a scalable Proof-of-Stake network focused on user accessibility. The analyst said that he believes NEAR is ready to start a relief rally, after almost a 40 percent correction after hitting the all-time high of $20.44, adding:
200-day exponential moving average + 786 Fibonacci Given its level, I think this area is still good for a short-term bounce. That said, I don’t expect NEAR to break all-time highs.
These altcoins are ready for the big rally
Altcoin Sherpa’s third place is DAO Maker (DAO). DAO is the management token of the DAO Maker platform, a decentralized finance and venture capital fund built on the Ethereum blockchain. According to the analyst, the DAO will rally by around 20 percent from its current price of $3.28. The analyst said of the DAO:
I think this is one of the better looking altcoin charts right now. The 200-day exponential moving average could act as resistance, but this has held up pretty well over the past few weeks despite the market downturn. I think $4 is coming soon.
The last altcoin on the analyst’s radar is LookRare (LOOKS). LookRare is an NFT marketplace that actively rewards investors, collectors and creators for participation. Users can earn LOOKS tokens by trading NFTs, staking LOOKS and more on LookRare. Altcoin Sherpa said LOOKS must surpass a critical resistance to maintain bullish momentum, stating:
LOOKS are still moving. I added it at $1.40 but I wish I had added more. I like the combination of 786 [Fibonacci level] + POC [checkpoint] in the entire price history. It is still necessary to break $2.20.
