- Altcoin Sherpa Predictions
- $BTC $SOL $OP $LOOKS
Altcoin Sherpa Predictions
The pseudonymous crypto analyst Altcoin Sherpa remains largely bearish about the market despite the general price uptick last week.
The trader tells his 180,700 Twitter followers that $22,000 is a “must hold” level for Bitcoin (BTC).
“The last high, although technically higher, is not convincing, and I think there’s a real chance that this low gets broken at $22,000.”
BTC is trading at $23,429 at time of writing.
Altcoin Sherpa is similarly bearish on the Ethereum (ETH) competitor Solana (SOL).
“Didn’t see a clear higher high on this last move. Best we get is some sort of ranging consolidation pattern [in my opinion], seems unclear to me.”
Solana is trading at $40.23 at time of writing.
The analyst also believes OP, the native token for Optimism, will break lower, saying it has “lots of inefficiencies to fill.” Optimism is a layer-2 scaling solution for Ethereum.
OP is trading at $1.91 at 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 chop” for LOOKS, the utility token of the Ethereum-based non-fungible token (NFT) marketplace LooksRare.
LOOKS is trading at $0.380175 at time of writing.
Conversely, however, Altcoin Sherpa is more bullish on SNX, the native token of Synthetix, a protocol that allows for the issuance of synthetic tradable assets on Ethereum, such as commodities or indices.
“Waited patiently for this level and I think that it’s going to go up, that said it’s always going to depend on BTC. Still think this looks pretty good.”
*This article originally appeared in The Daily Hodl.