A Crypto Trader Expects Upside Potential for New Altcoin, Pixels (PIXEL)
A popular crypto trader, known as Altcoin Sherpa, believes that the recently launched gaming altcoin Pixels (PIXEL) has a lot of upside potential. According to the traderโs chart, PIXEL is likely to bounce from its current value and remain trading above the support level of $0.46. The trader suggests buying PIXEL at spot price, dollar-cost averaging down lower, and then selling it at a higher price after a week or two. However, they also caution that there may be downsides and difficult entries/exits.
Ethereum Competitor Avalanche (AVAX) May Be Forming a Bearish Pattern
Altcoin Sherpa warns that Avalanche (AVAX), an Ethereum competitor, may be forming a bearish pattern. They emphasize the importance of monitoring the next overall low for altcoin charts like AVAX. If a lower low is hit and $26 is taken out, it could potentially be concerning for AVAXโs overall performance.
Bitcoin Remains in an Upward Trend, Alts May Consolidate or Dip
The trader notes that Bitcoin (BTC) is still in a bullish market structure in the high timeframe. However, they expect some altcoins to start consolidating or experiencing dips in the next few weeks or months. This consolidation or bottom formation would be considered healthy for altcoin markets.
No Immediate Breakout Expected for Celestia (TIA)
Altcoin Sherpa believes that it may take some time before there is a breakout for Celestia (TIA), a blockchain designed to enable decentralized networks at minimal cost. They suggest not actively trading TIA at this level but rather holding it for more upside potential.
Disclaimer: This article is not financial advice. The information provided here is for informational purposes only. It should not be considered as financial or investment advice. Always do your own research before investing in any cryptocurrency.
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