Trader Predicts Market Correction for Dogecoin Rival Bonk
Crypto trader Altcoin Sherpa believes that Bonk (BONK), a popular Dogecoin rival, is heading towards a severe market correction. While the memecoin could still see a rally before the potential dip, Altcoin Sherpa suggests considering an exit or partial exit from Bonk at its current levels. He also warns against shorting the coin and predicts that it could reach $0.0000190 before experiencing further downside. Looking at his chart, Altcoin Sherpa indicates that Bonk may enter a trading range with a lower bound at $0.0000100 and an upper bound at $0.0000140.
Bullish Outlook on Ethereum Layer-2 Scaling Solution Arbitrum
Altcoin Sherpa is bullish on Arbitrum (ARB), an Ethereum layer-2 scaling solution. He sees the current chart as favorable and suggests entering the market from its current price down to $2. Altcoin Sherpa remains optimistic about ETH beta for now.
Possible Retest of Lower Levels for Smart Contract Protocol Avalanche
Altcoin Sherpa believes that Avalanche (AVAX), a smart contract protocol, may retest lower Fibonacci retracement levels and briefly dip below $30. While AVAX bounced at the .382 Fibonacci level, Altcoin Sherpa expects the price to trade lower and considers buying in at sub-$30.
Hot Take: Altcoin Sherpa Offers Insights on Crypto Market
Crypto trader Altcoin Sherpa shares his predictions and insights on various cryptocurrencies, including Dogecoin rival Bonk, Ethereum layer-2 scaling solution Arbitrum, and smart contract protocol Avalanche. He warns of a potential market correction for Bonk, advises bullishness on Arbitrum, and suggests a possible retest of lower levels for Avalanche. Altcoin Sherpa’s analysis provides valuable information for crypto traders looking to navigate the market.
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