A widely respected cryptocurrency analyst says he is bullish on the long term about a gaming altcoin that has been flying under the radar.
pseudonymous trader Altcoin Sherpa told his 207,100 followers on social media platform
According to altcoin Sherpa, he see BEAM goes “much higher” during this bull market cycle.
“BEAM: One of my big bets on the game this cycle is I am bullish about this cycle. I wouldn’t advise buying around this area and would probably wait a little longer. That said, during high periods, I think this will go much higher.”
As of this writing, BEAM is at an all-time high at $0.102, up more than 14% in the last 24 hours.
According to an anonymous analyst, BEAM is one of the altcoins launched after a long period of accumulation, along with blockchain oracle Chainlink (LINK) and cross-chain decentralized finance (DeFi) project SuperVerse (SUPER).
Altcoin Sherpa note These coins tend to follow similar patterns. A big rally is followed by a period of consolidation before the next rally.
“These types of coins often offer good/decent swing trades for those who are patient. Because of this:
– All of these coins are fundamentally fine/won’t go to zero.
– Liquidity is good and market capitalization is high.
-We have already shown strong and sustainable movements in the past.”
The analyst shares a chart showing LINK breaking out of two accumulation periods.
Chainlink is trading at $20.24 at the time of this writing.
Meanwhile, SuperVerse has begun a months-long consolidation period based on traders’ charts.
As of this writing, SUPER is valued at $0.956, up more than 11% in the last 24 hours.
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