A widely respected cryptocurrency analyst and trader remains bullish on an altcoin that has been hot for months.
Analyst known by the pseudonym Altcoin Sherpa says His 205,800 followers on Web3 Project Internet Computer’s (ICP) social media platform X still have more upside potential.
“ICP: Another coin that looks interesting in terms of setup, with the addition of a 4-hour 200-day exponential moving average (EMA) that has not been tested in some time in a bullish demand zone. I’m considering craving this.”
Looking at his chart, the trader suggests that a bounce could occur if ICP holds the 200-day EMA as support near the key level of $11.25.
ICP is trading at $11.14, up more than 270% since closing at $2.99 on October 19th.
Next is the merchant predict Decentralized oracle provider Chainlink (LINK) will trade around the current price level during the consolidation phase before moving into another phase.
“LINK is consolidating to advance to the next level, but we still expect it to calm down for some time and continue to consolidate. “I don’t expect any big moves just yet.”
Chainlink is trading at $15.43 at the time of this writing, up more than 7% in the last 24 hours.
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