A prominent crypto strategist believes one of the top 10 altcoins is set to rally again.
Altcoin Sherpa, an anonymous analyst, told his 215,400 followers on social media platform X that he believes BNB, the native asset of DeFi protocol Binance Smart Chain, will see a price increase this year.
He also believes that the release of former Binance CEO Changpeng Zhao (CZ) next month could be a bullish catalyst for BNB.
“BNB is still one of the best majors right now, and it will also coincide with the launch of CZ in about a month. You can try to get ahead of this by buying BNB and exposing BNB to shitcoins (i.e. memes that are out there).”
Looking at the charts, traders predict that BNB could soon turn to $612 as a support level.
At the time of writing, BNB is trading at $584, up more than 2% in the last 24 hours.
Next, the analyst is expressing a bullish outlook on Fantom (FTM), a competitor to Ethereum (ETH).
“FTM: Very strong move lately. The project has been broken recently, but I still think it is a solid project at the fundamental level as the S (Sonic Network) migration approaches. Next target area is around $0.55, 200-day EMA (Exponential Moving Average) and S/R (Support/Resistance) level. Still looking good..”
At the time of writing, Fantom is trading at $0.46, up slightly over the last 24 hours.
Finally, the analyst said Solana (SOL) could remain in the trading range between $125 and $150 for some time.
“SOL is still ok, but not very active at all. At times like this, it’s best used to collect those coins that aren’t doing anything. I think $125-$150 is still a good opportunity. This kind of scalping is probably not good for 99% of us.”
At the time of writing, Solana’s price is $144, up 1.4% over the last 24 hours.
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