- Pseudonymous crypto analyst Altcoin Sherpa has labeled three major altcoins for impending surge.
- These altcoins include Chainlink (LINK), Avalanche (AVAX) and Fantom (FTM).
A pseudonymous crypto trader known as Altcoin Sherpa has taken to the X platform to enlighten his followers on his outlook on certain altcoins including Chainlink (LINK), Fantom (FTM), and Avalanche (AVAX). Altcoin Sherpa considered these Layer-1 protocols as viable projects but whose prominence has dropped in the recent crypto cycle.
According to the analyst’s chart, Avalanche (AVAX) is retesting a potential bottom at $9.82. The coin is down by 1.78% and is currently trading at the $9.38 price level. Just as it has been in the last couple of weeks, AVAX seems to be moving further down toward the marked bottom.
Fantom is not performing better than AVAX as it lost 1.46% of its market value within the past 24 hours. Notably, FTM was trading at $0.191 during press time. Sherpa’s chart suggests that FTM would likely bounce when it reaches the $0.202 level.
Chainlink is currently performing better than many other cryptocurrencies that have been trying to pick themselves up from the broader industry’s harsh market price decline that has lingered for a few weeks. Sherpa included the altcoin as one of the best coins in terms of overall crypto infrastructure.
At the same time, the trader pointed out that LINK is “chopping around.” Explaining further, Sherpa claimed that it would take a couple of months for Chainlink to break out of a persistent trading range. In his opinion, the pseudonymous trader says he prefers to buy LINK and HODL it for about six months before putting it up for sale at a higher rate. He acknowledged that the move is not good active trade advice but a safer option.
A close look at the analyst’s chart shows that the altcoin has traded in a range with a high of $9.33 and a low of $5.53 since May 2022. In the last 24 hours, altcoin has experienced a 2.16% price dip and is trading at a price of $5.98 at this time.
Popular Crypto Analyst Bullish on Chainlink
Just like Sherpa, top crypto analyst Michaël van de Poppe also believes LINK is gearing up for a bull run. Moreso, he is confident that Chainlink may be on the brink of a breakout against Bitcoin (BTC), the crypto industry’s gold standard. The analyst shared his bullish stance after the altcoin touched the lower spectrum of its $5.50 to $7.27 range.
Michaël noticed Chainlink’s ability to uphold its upward momentum above 0.000216 BTC (equivalent to $5.57) after its surge to 0.000236 BTC ($6.08). Also, the analyst tied his prediction to the significance of the recently launched Chainlink Cross-Chain Interoperability Protocol (CCIP) which the market is yet to recognize, in his opinion.
Lastly, Sherpa looked at crypto gambling platform Rollbit’s native token RLB which has seen up to a 714% increase in the past couple of months. Between June 11th and now, the coin has surged from $0.0189 on June 11th to $0.154.
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