A popular analyst and trader is offering his outlook on three crypto assets amid volatility in the markets.
Starting with the flagship crypto asset, pseudonymous analyst Altcoin Sherpa tells his 181,600 Twitter followers that Bitcoin (BTC) has established a short-term bottom just below the $21,000 level.
According to the trader, Bitcoin could go up by over 5% from its current price.
“BTC: Nothing has changed overall, I think this is still the short-term bottom, expecting a move to $23,000 or something. Run of the lows certainly possible but I don’t expect high time-frame closes in the low $20,000s. Still expecting higher and no clue after that.”
Bitcoin is trading at $21,581 at the time of writing.
Next up is Dogecoin (DOGE), the largest meme coin by market cap. Altcoin Sherpa says that Dogecoin currently lacks a clear sense of direction after moving from a three-month high of nearly $0.09 into the $0.058 – $0.077 range.
“DOGE: This one went right back into the range; it’s not even the leader (SHIB was this time). No clear trend here in the short term, a bit disappointed in this one (thought it would run a little harder).”
Altcoin Sherpa ends his analysis with the native token of sports fans’ engagement platform Socios.com, Chiliz (CHZ).
The crypto analyst says Chiliz could surge by nearly 40% from current levels after rallying by triple digits over the past 30 days.
“CHZ: Congrats to all who played this one, I’d consider taking some profits around here. Break through this level and maybe this continues up to $0.33 but there are a lot of levels to get through.”
Over a 30-day period, Chiliz rose from a low of $0.1020 recorded on July 27th to trade for $0.238 at the time of writing, a 133% rise.
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Source: https://dailyhodl.com/2022/08/24/heres-whats-next-for-bitcoin-dogecoin-and-one-altcoin-thats-up-over-130-in-a-month-top-crypto-analyst/