The widely known cryptocurrency analyst and trader is providing predictions for digital tokens that represent physical and traditional financial assets or real world assets (RWA).
Trader known by the pseudonym Altcoin Sherpa says 213,700 followers on social media platform
Mantra (OM), the Ethereum (ETH)-based native token of a cryptocurrency project focused on tokenizing real-world assets, is likely to fall further before resuming an upward trend based on Fibonacci retracement levels, according to Altcoin Sherpa. It’s highly likely. In technical analysis, Fibonacci retracement levels are used to identify key support and resistance points and further identify possible reversal points.
“I think OM will probably cool off a bit and find a bottom in the $0.60 area or $0.50 area. “These Fibonacci levels appear to be interesting, but we hope to see a hardening bottom in the long term.”
OM is trading at $0.674 at the time of this writing, up about 1,054% from its January 1st opening price of $0.0584.
Bitcoin (BTC) converts to altcoin sherpa Called The 4-hour 200 exponential moving average (EMA) has twice proven to be a reliable support area for the prices of major cryptocurrency assets.
“BTC: Let’s keep things really simple and just bid the 200 EMA on the 4-hour chart. The last time this item was tagged (except recently) was in early February. “In my opinion, this still remains a good bid at the moment.”
At the time of this writing, Bitcoin is trading at $65,827.
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