A closely followed crypto strategist believes that one large-cap altcoin is primed to print strong gains this year.
Pseudonymous analyst Altcoin Sherpa tells his 204,600 followers on the social media platform X that Binance Coin (BNB) could dip lower in the short term but undergo a big rally this year.
“BNB: bid around the $285 mark, in my opinion. Current area is iffy and entire market is shaky rn (right now). Still bullish on this one though. I think that we’re going to see strong gains for BNB in 2024; mostly through Binance launchpad projects and more.”
Looking at his chart, the trader suggests that the Fibonacci retracement levels 0.236 at $305.9 and 0.382 at $286 are still acting as support for BNB.
BNB is trading for $309.13 at time of writing, down more than 4% in the last 24 hours.
Next up, the trader says that he is long-term bullish on the Ethereum (ETH) layer-2 scaling solution Arbitrum (ARB), but expects it to dip to lower trading ranges in the short term.
“ARB: I still think this is strong still and price has some clear ranges. Would bid $1.80 or so and that should be a good first starter point; with some bids all the way down to the $1.60s if it gets bad. Still bullish on this higher time frame-wise though.”
Arbitrum is trading for $1.87 at time of writing, down 3.42% in the last 24 hours.
Lastly, the trader says that Celestia (TIA), a blockchain designed to enable anyone to launch their own decentralized networks at minimal cost, is likely heading higher.
“TIA: to be honest, when these things usually go, they’ll continue pretty strong. This chopped/consolidated for a while, I think the next leg is coming. Bid $14.30 and above and maybe you get it.”
Celestia is trading for $15.73 at time of writing, up more than 1% in the last 24 hours.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
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.
Generated Image: DALLE3
Source: https://dailyhodl.com/2024/01/06/analyst-says-top-10-blue-chip-altcoin-could-see-strong-gains-in-2024-updates-outlook-on-arbitrum-and-celestia/