A widely followed crypto analyst and trader is turning bullish on one privacy-focused low-cap altcoin project.
The analyst pseudonymously known as Altcoin Sherpa tells his 206,200 followers on the social media platform X that crypto project Manta Network (MANTA) may be in an uptrend after flipping a key resistance level at $2.77 into support.
“MANTA: all-time high soon. New launched coins + narrative = strong candidates to actually be ok in this current market environment.”
MANTA is trading for $2.97 at time of writing, down more than 8% in the last 24 hours.
Next up, the trader predicts Ethereum (ETH) competitor Solana (SOL) may retest lower Fibonacci retracement levels before rallying again.
“SOL: I think that DCAing (dollar cost averaging) in at the .382 ($84.67) and .50 ($71.81) are both good options for long-term holds for Solana. Not expecting things to ramp up quite yet but just be patient.”
Solana is trading for $86.70 at time of writing, down more than 2% in the last 24 hours.
Lastly, the trader weighs in on decentralized artificial intelligence platform for applications Fetch.ai (FET). He warns that based on trading volume trends, FET may decline nearly 20% from its current value.
“FET: short-term bottom looks like it could be in, but I still ultimately believe this trades lower, around $0.45-$0.55. Hope I’m wrong.”
FET is trading for $0.57 at time of writing, down more than 3% in the last 24 hours.
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Source: https://dailyhodl.com/2024/01/26/crypto-analyst-predicts-low-cap-altcoin-will-hit-new-all-time-high-soon-updates-outlook-on-solana-and-fetch-ai/