A cryptocurrency strategist who follows closely believes hot altcoin projects have more upside potential.
Pseudonymous analyst Altcoin Sherpa says 206,900 followers on social media platform
“DYM: We closed everything yesterday and now there is no round-trip profit.
It’s still a bit choppy and I’m not a huge fan of where BTC is at. I still think this could go higher, but I will be patient for now.”
Looking at the chart, the trader suggests that DYM is holding the $7.05 level as support and could rise to $7.39 based on the Fibonacci retracement level.
Dymension is trading at $7.11 at the time of this writing, up more than 100% from its February 6 low of $3.54.
Next is the merchant predict Layer 1 blockchain Sui Network (SUI) is said to increase by more than 10% from its current value.
“SUI: This will eventually reach $2. I feel pretty strongly about that. The lower period still looks pretty strong and it is important to remember that there are all types of consolidation patterns.”
Looking at the chart, traders suggest that SUI is still in an upward trend as several exponential moving averages (EMAs) continue to rise.
SUI is trading at $1.81 at the time of this writing and is up nearly 7% in the last 24 hours.
Finally, the merchant Called Bitcoin (BTC) is approaching a critical moment as it reaches the $50,000 mark on Monday.
“BTC: The moment of truth is here. You definitely want to see this succeed and follow up. If this is a quick deviation, be very careful. “I’m still optimistic about a higher period, but we’ll see what happens.”
Looking at his charts, the trader suggests that Bitcoin will remain in an upward trend if it can definitely break the $50,000 level, otherwise Bitcoin may correct to around the $46,000 level.
Bitcoin is trading at $49,624 at the time of writing, up more than 3% in the last 24 hours.
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