A trending cryptocurrency trader, Altcoin Sherpa, believes that Chainlink (LINK), an Ethereum-based altcoin, is set for a whole lot of price rally. According to the trader, LINK has been trading within a range since May 2022, with an upper bound of $9.33 and a lower bound of $5.52. Nonetheless, in the next bull market cycle, the trader predicts that LINK will break out of this range and experience substantial growth.
Bitcoin (BTC) Expected to Cross 200-Day Moving Average
The cryptocurrency trader likewise provides insights on Bitcoin’s price movement. The trader implies that Bitcoin (BTC) will likely surpass the 200-day simple moving average (SMA), which indicates bullishness in the market. According to the trader’s chart, Bitcoin (BTC) is expected to reach $26,700 and then retest the $26,300 level before continuing its rally to $28,000 by September 18th.
Polygon (MATIC) Could See a Decline
The trader likewise expresses concerns about Polygon (MATIC), another altcoin. According to the trader, if MATIC loses support at the $0.50 level, it might experience a decline of more than 42% due to a lack of trading interest.
Bored Ape Yacht Club Token (APE) May Collapse
The trader predicts a probable collapse for ApeCoin (APE), the native token of the Bored Ape Yacht Club community. As APE retests the $1.14 level, the trader suggests caution and mentions that there is no whole lot of reason or narrative for the token to appreciate in value.
Hot Take: Cryptocurrency Trader’s Insights on Altcoins and Bitcoin
A prominent cryptocurrency trader, Altcoin Sherpa, shares his predictions and outlook on numerous altcoins and Bitcoin. According to the trader, Chainlink (LINK) is poised for a whole lot of price rally, while Bitcoin (BTC) is expected to surpass the 200-day moving average and continue its upward trend. Nonetheless, the trader expresses concerns about Polygon (MATIC), which could experience a decline if it loses critical support. In addition, the trader is warning about a probable collapse for ApeCoin (APE) due to a lack of market interest. These insights provide valuable information for cryptocurrency enthusiasts looking to make notified investment decisions.
Daisy Hodley emerges as a luminary blending the roles of crypto analyst, devoted researcher, and editorial virtuoso into a harmonious symphony. In the realm of digital currencies, Daisy’s insights resonate with an exquisite resonance across a diverse spectrum of minds. Her adeptness in decoding intricate threads of crypto complexities seamlessly intertwines with her editorial finesse, translating intricacy into a captivating melody of understanding.