Crypto Analyst Bullish on Red-Hot Altcoin
A popular crypto analyst is bullish on an altcoin that has doubled in value in a few weeks. According to pseudonymous trader Altcoin Sherpa, Vulcan Forged (PYR) has more room to grow after breaking out of its long-term trading range.
Altcoin Sherpa likened PYR’s chart to that of Chainlink (LINK), another altcoin that broke out after being in a range for over a year.
On October 19th, PYR was trading at $2.76 and reached a high of $6.39 at the time of writing, marking a 131% increase. PYR had retraced to $5.86 at the time of writing.
Altcoin Sherpa also expressed bullishness about Chainlink, noting that the price remains above key exponential moving averages (EMAs) on the weekly chart and predicting that LINK will hit the $20 level, which is nearly a 36% increase from its current value.
According to the trader, the next key resistance level for LINK is at $18.80. At the time of writing, LINK is trading for $14.73, up 5.6% in the last 24 hours.
Hot Take
The analyst’s bullish stance on PYR and Chainlink reflects positive sentiment about these altcoins’ potential for growth and upward momentum within the market.
By
By
By
By
