A Promising Altcoin with Significant Upside Potential, According to Analyst
An experienced analyst and trader, known as Altcoin Sherpa, believes that the native token of modular blockchain Dymension (DYM) has a lot more room for growth. Altcoin Sherpa suggests that any significant pullback by DYM could be seen as an opportunity to enter the market. The analyst points out that $6.32 is an important resistance level that could potentially act as a support zone. Currently, Dymension is trading at $7.75, showing a 96% increase from its price of $3.95 on February 6th.
Bitcoin’s Outlook: Caution Advised
Altcoin Sherpa also shares insights on Bitcoin’s current trends. The analyst warns traders to exercise caution as Bitcoin approaches a resistance zone that it failed to surpass earlier this year. However, when considering higher time frames, Altcoin Sherpa states that Bitcoin remains bullish and emphasizes that this would be the first “real” weekly close above $44,000 since early December. At present, Bitcoin is trading at $47,429.
Conclusion
The native token of modular blockchain Dymension is expected to experience further growth, according to Altcoin Sherpa. On the other hand, caution is advised for Bitcoin traders due to its current resistance zone. Both assets continue to be closely monitored by the crypto community.
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