Here’s what’s next for Bitcoin (BTC), Solana (SOL), and three under-the-radar altcoins: Top Crypto Traders
Pseudonymous crypto analyst altcoin Sherpa remains largely bearish on the market despite the overall price rally over the past week.
The trader tells his 180,700 Twitter followers that $22,000 is a “must see” level for Bitcoin (BTC).
“The recent high, while technically higher, is unconvincing and I think there is a real chance of that low being broken at $22,000.”
Source: AltcoinSherpa/Twitter
BTC is trading at $23,429 at the time of writing.
Altcoin Sherpa is similarly down versus Ethereum (ETH) competitor Solana (SOL).
“I didn’t see a clear higher high on that last move. The best we’re getting is some kind of wide-ranging consolidation pattern [in my opinion]seems unclear to me.”
Solana is trading at $40.23 at the time of writing.
The analyst also believes OP, the native token for optimism, will break down, saying it has “many inefficiencies to fill.” Optimism is a Layer 2 scaling solution for Ethereum.
OP is trading at $1.91 at the time of writing. The 116th-ranked crypto asset by market cap is up more than 18% in the past 24 hours.
Additionally, altcoin Sherpa predicts “more overall performance” for LOOKS, the utility token of Ethereum-based non-fungible token (NFT) marketplace LooksRare.
LOOKS is trading at $0.380175 at the time of writing.
Conversely, however, altcoin Sherpa is more bullish on SNX, Synthetix’s native token, a protocol that enables the issuance of synthetic tradable assets on Ethereum, such as commodities or indices.
“I’ve been patiently waiting for this level and I think it will go up, meaning it will always depend on BTC. Still think that looks pretty good.”
SNX is trading at $3.84 at the time of writing.
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