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Home»ALTCOIN NEWS»Analyst says Ethereum rival Memecoin, which just hit a new all-time high, updates its outlook for altcoins.
ALTCOIN NEWS

Analyst says Ethereum rival Memecoin, which just hit a new all-time high, updates its outlook for altcoins.

By Crypto FlexsMay 16, 20242 Mins Read
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Analyst says Ethereum rival Memecoin, which just hit a new all-time high, updates its outlook for altcoins.
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One cryptocurrency strategist believes that the Ethereum (ETH) challenger is following in the footsteps of the hot memecoin, which recently hit a record high.

Household analyst Credible tells his 393,500 followers on social media platform

“It looks the same as PEPE and I think overall it’s about buying on the downside and targeting the highs while hoping for some relief.

“It’s been too long since last night.”

source: Trusted/X

Looking at the trader’s chart, he appears to be targeting NEAR’s $9 with a void at $5.72. As of this writing, NEAR is trading at $7.03, suggesting an upside potential of nearly 30% if the altcoin achieves Credible’s goals.

Credible is optimistic about NEAR, however. Called His sentiments do not extend to Pepe and large-cap altcoins. Analysts say Pepe and major altcoins are making big correction moves as they believe market participants are turning over capital to ride the next rally in Bitcoin (BTC).

“We are in a variety of environments where we think Pepe and major alts = distros that ultimately lead to failure.

Bitcoin = In an environment where I think the re-accumulation range will ultimately break through to $100,000.”

As of this writing, Bitcoin is worth $61,655.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may suffer. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

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