The widely respected cryptocurrency strategist remains bullish on one gaming altcoin this market cycle.
Pseudonymous analyst Altcoin Sherpa says Beam (BEAM) With 214,300 followers on social media platform
“Beam: It’s one of my bags. It’s been really cold the past few weeks. Still very bullish on this coin and an index bet for the cryptocurrency game during this cycle. “We will continue to hold it, not trade it.”
Looking at the trader’s chart, he suggests that Beam could rise to key upside levels of $0.036 and $0.040.
Beam is trading at $0.031 at the time of writing and has risen slightly over the past 24 hours.
Next is the analyst Called Ethereum (ETH) layer 2 scaling solution Arbitrum (ARB) could fall more than 15% from its current value.
“ARB: Nasty price action. I think this price will drop below $1.20. I’d like to see it harden and cool a bit before forming the base. However, the disappearance of the 200-day exponential moving average (EMA) is not significant and could almost reverse the entire movement.”
Arbitrum is trading at $1.42 at the time of this writing, down more than 2% in the last 24 hours.
Finally, the analyst Called Render (RNDR), a project related to graphics processing units (GPUs), could fall nearly 17% from its current value based on Fibonacci retracement levels.
“RNDR: Now you can fib out the entire range and wait for .382 and .50 fibs. Strong coins like RNDR will likely bounce a little lower, targeting the $7.50 level. But we remain optimistic about 2024.”
Render is trading at $9.03 at the time of this writing and is down more than 1% in the last 24 hours.
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