A crypto strategist who has been following through on timely altcoin calls outlines what’s in store for three digital assets, including XRP and Ethereum (ETH).
Pseudonymous analyst Altcoin Sherpa told his 183,100 Twitter followers that he’s bullish on XRP, and he sees the seventh-largest crypto by market cap sparking a modest rally in the short term.
“XRP: Standard…
Targeting range is high.”
At the time of writing, XRP is changing hands at $0.41, up 8% in the last 24 hours.
The next smart contract platform is Ethereum. According to Altcoin Sherpa, he expects ETH to correct further before potentially carving a bottom and reversing its bearish trend.
“ETH: Next $1,000-$1,200 area according to volume profile. There should be some decent support in that range.
Price Fractal. You see this type of double bottom for reversals on all timeframes. That’s what the potential downside will look like in my opinion.”
At the time of writing, Ethereum is valued at $1,334, down about 3% on the day.
Another altcoin on trader’s radar is Chiles (CHZ), a platform native asset designed to tokenize sports and esports to encourage fan participation. According to Altcoin Sherpa, CHZ bulls could start a rally if they can break its immediate resistance at $0.25.
“It looks scary on all timeframes but is still one of the best-performing coins. Possible double top in four hours, plus it’s still an area of resistance. If it reverses, $0.30 will be the next area in my opinion.”
At the time of writing, CHZ is changing hands at $0.24, down more than 3% in the past day.
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