Bitcoin is about to recover from sideways price movements. Along with gaining almost 10% since last week, Chainlink’s 8% and Ethereum’s 17% gains are notable. For these 3 cryptos, a Twitter analyst nicknamed Altcoin Sherpa has updated their price predictions.
Analyst predicts next levels for Bitcoin, Ethereum, and Chainlink
Markets are moving cautiously towards the end of the week. The biggest cryptocurrencies have gained double digits since last week. According to a Twitter analyst nicknamed Altcoin Sherpa, if Bitcoin can retrace the $20,300 zone, $21,600 will be the next step. Sherpa had this to say on Twitter yesterday:
From my point of view, this $20,300 area needs to be retaken before more gains can be made. The next target will be $21,600.
$BTC: Still need to see a reclaim of this 20.3k region before any further upside IMO. 21.6k would be the next target. #Bitcoin pic.twitter.com/OgtEWiBoSG
— Altcoin Sherpa (@AltcoinSherpa) July 5, 2022
The analyst was correct in this prediction. Bitcoin surpassed $20,900 for the first time this month on July 7 after hitting $20,600 yesterday. It is trading at $20,878.64 at the time of writing.
Analyst says LINK’s horizontal moves point to rally
The analyst then takes a look at the decentralized oracle network Chainlink (LINK). LINK has been moving horizontally for a while along with the market in general. Accordingly, Sherpa points out that the consolidation is a sign that investors are packing their bags in anticipation of a future rally. The analyst said on Twitter in July:
I guess that seems to be accumulating personally to me. I think this continues to stick around for the few weeks before a move. The strength of the next move will depend on how long it stacks up. The longer the chop, the stronger the lunge.
LINK price is currently up 8% over the last 24 hours. Meanwhile, it is trading just above $6.5.
Altcoin Sherpa looks at what Ethereum is doing against Bitcoin
ETH/BTC parity, latest analysis by chart guru. Specifically, the analyst claims that while ETH remains negative, the resistance level looks like the 200-day exponential moving average (EMA) around 0.07008 BTC (or $1,416). The shorter timeframes show that the 200-day EMA is once again serving as resistance. But higher timeframes still don’t look good.
cryptocoin.com As you follow, Ethereum developers have completed an important phase for the merge. Thus, the second-to-last major Merge trial on the public testnet Sepolia is successful. As a result, Ethereum paved the way for its transition to PoS with this phase. ETH price is currently trading in the green 20% compared to last week.
