A popular cryptocurrency trader believes that a controversial altcoin project still has potential for growth.
Pseudonymous crypto analyst Altcoin Sherpa tells his 196,400 followers on the social media platform X that Worldcoin (WLD) could surge by more than 11% from its current value.
“WLD: I am all out of this one, took the majority of my profit in the $1.70-$1.85 area. I think this thing could ultimately run to $2.00 overall (or maybe more).
A few things: Don’t ever invest in this long-term. Don’t short this for a bit either.”
Looking at his chart, the trader seems to think that Worldcoin is in an uptrend after flipping the 200-day exponential moving average (EMA) into support.
Worldcoin is trading for $1.80 at time of writing, up 0.3% in the last 24 hours.
Next, the trader says that he is closely watching the native governance token of Biconomy (BICO), a network that offers plug-and-play relayer infrastructure to developers, as the token is retesting a key level.
“BICO: Huge move up today, perps (perpetual contracts) announced on Binance. Don’t think I would personally buy this current level (200-day EMA acting as resistance) but keeping an eye on it overall.”
Biconomy is trading for $0.25 at time of writing, up 26.6% in the last 24 hours.
Lastly, the trader says that Terra (LUNA) may, after bouncing off of a key Fibonacci level, retrace gains in the near term before taking off on another rally.
“LUNA: I’m long since .382 fib, but I have bids in the $0.49 area. This is my absolute favorite setup.”
LUNA is trading for $0.49 at time of writing, down 11.8% in the last 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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Source: https://dailyhodl.com/2023/09/29/crypto-trader-says-controversial-altcoin-could-surge-by-double-digits-updates-outlook-on-biconomy-and-terra/