A widely known cryptocurrency analyst said he sees upside potential for two cryptocurrency assets with market capitalizations of less than $1 billion.
Pseudonymous cryptocurrency strategist Altcoin Sherpa told his 206,800 followers on social media platform
The trader shares a chart that suggests JUP is likely to carve out a local bottom at around $0.50 before rebounding to around $0.82.
“I still think it will go up in the short term, but I think it will only go down for a little while after a big rally (say $1 or more).”
As of this writing, JUP is trading at $0.58, a few days after the token was launched amid a highly anticipated airdrop.
Manta Network (MANTA) turns into altcoin sherpa Called The privacy-focused cryptocurrency project’s native token could rally on the condition that Bitcoin (BTC) does not witness any major moves in its downtrend.
“This could get us back into the sub-$2.50 region. In my opinion, the new coin is still a noteworthy coin. “We are watching, but as long as Bitcoin (BTC) is stable, it will rebound soon.”
MANTA is trading at $3.05 at the time of this writing.
Regarding the underlying asset of decentralized oracle network Chainlink (LINK), Altcoin Sherpa said the price is likely to move higher if the cryptocurrency asset shows strength and overcomes immediate resistance.
“Link: If the price breaks the $18 level, it is likely to go to $24 in the medium term (or longer). There are some small levels, like $20, but overall it still looks strong.”
LINK is trading at $17.81 at the time of this writing.
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Featured image: Shutterstock/Giovanni Cancemi/Natalia Siiatovskaia