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Ethereum, Chainlink, and this Unicorn to explode in price due to this reason

John KumiBy 0Edited by John Kiguru 5. October 20223 Mins Read
  • In a post addressing his 184,100 Twitter followers, Altcoin Sherpa predicted that ETH can break into the $1,500 level.
  • According to Altcoin Sherpa, Chainlink has shown a signal of drawing closer to the 200-day moving average, which is around $10.

The crypto market has in the past couple of days shown signs of recovery with Ethereum up by 2 percent in the last 24 hours trading at $1,344. Bitcoin is also up by 3 percent trading at $20,108 while altcoins like Dogecoin and Chainlink are up by 7 percent and 2 percent respectively over the same period. The crypto market has not made any huge recovery since losing hundreds of millions after the Terra ecosystem crash. 

According to a popular crypto trader known as Altcoin Sherpa, the current trend would continue over time but some selected cryptos would steal the spotlight. In a post addressing his 184,100 Twitter followers, Altcoin Sherpa predicted that ETH can break into the $1,500 level. This would be an 11 percent surge from its current price.

ETH: I think this goes to 1500 at a minimum, to be honest. This looks like it’s forming a short-term bottom overall and I still think looks decent.

Another crypto found to be at the position of a breakout was the decentralized oracle network Chainlink. According to Altcoin Sherpa, Chainlink has shown a sign of drawing closer to the 200-day moving average, around $10. This would be a 30 percent surge from the current price. 

Another crypto that is expected to stage a bull run is Injective Protocol (INJ). This is a decentralized exchange based on the Ethereum network. It offers margin trading and derivatives on a cross-chain platform. The asset is currently trading at $1.77 which is an entry point according to Altcoin Sherpa. Per the analysis, it is targeting the $2.20 range 

INJ: Buy strength in this market. I’ll buy the next dip when it comes and feels comfortable about it. Probably mid $1s.

Bitcoin could continue its bearish run

Interestingly, he still finds Bitcoin bearish. According to him, there could be a leg down in the next move for Bitcoin.

BTC: Consolidation into another leg down has been the case for the entirety of 2022, is this going to be any different? The trend is still bearish until shown otherwise. It’s shitty and scary and a big move is coming.

Other analysts including Guggenheim Chief Investment Officer Scott Minerd have also been bearish on Bitcoin. When the asset was trading at a little over $30,000. Minerd predicted that Bitcoin could fall by more than 70 percent to trade at $8000. Speaking to CNBC, he stated that there is a lot more room for the downside especially as FED has been very restrictive. He further disclosed that most cryptos are not currencies, but “junk”. According to him, only Bitcoin and Ethereum would survive.  

 

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This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.

John is a seasoned cryptocurrency and blockchain writer and researcher, boasting an extensive track record of years immersed in the ever-evolving digital frontier. With a profound interest in the dynamic landscape of emerging startups, tokens, and the intricate interplay of demand and supply within the crypto realm, John brings a wealth of knowledge to the table. His academic background is marked by a Bachelor's degree in Geography and Economics, a unique blend that has equipped him with a multifaceted perspective. This diverse educational foundation allows John to dissect the geographical and economic factors influencing the cryptocurrency market, offering insights that go beyond the surface. John's dedication to the crypto and blockchain space is not merely professional but also personal, as he possesses a genuine passion for the technologies that underpin this revolutionary industry. With his astute research skills and commitment to staying at the forefront of industry trends, John is a trusted voice in the world of cryptocurrencies, helping readers navigate the complex and rapidly changing terrain of digital assets and blockchain innovation. John Kiguru is an accomplished editor with a strong affinity for all things blockchain and crypto. Leveraging his editorial expertise, he brings clarity and coherence to complex topics within the decentralized technology sphere. With a meticulous approach, John refines and enhances content, ensuring that each piece resonates with the audience. John earned his Bachelor's degree in Business, Management, Marketing, and Related Support Services from the University of Nairobi. His academic background enriches his ability to grasp and communicate intricate concepts within the blockchain and cryptocurrency space. Business Email: info@crypto-news-flash.com Phone: +49 160 92211628

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