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Home»ALTCOIN NEWS»Trader updates outlook for Ordinals token, which has surged more than 2,700% in three months, and warns Solana could fall.
ALTCOIN NEWS

Trader updates outlook for Ordinals token, which has surged more than 2,700% in three months, and warns Solana could fall.

By Crypto FlexsJanuary 19, 20242 Mins Read
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Trader updates outlook for Ordinals token, which has surged more than 2,700% in three months, and warns Solana could fall.
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The widely respected cryptocurrency analyst and trader is expressing bullish sentiments about the Bitcoin (BTC) ecosystem token in the medium term.

Trader known by the pseudonym Altcoin Sherpa says The 205,600 followers of the I said I would.

According to Altcoin Sherpa, ORDI would be attractive at a price of $65, about 10% below its current price.

Source: Altcoin Sherpa/X

ORDI is trading at $72.35 at the time of this writing, up approximately 2,777% from its closing price of $3.48 on October 18.

Switch to pseudonym trader Solana (SOL) Called He is optimistic about the price of the fifth-largest cryptocurrency asset by market capitalization in 2024, but expects prices to decline in the near term.

Source: Altcoin Sherpa/X

SOL is trading at $98.01 at the time of this writing.

Next is the decentralized cross-chain liquidity protocol THORChain (RUNE). According to Altcoin Sherpa, the major Fibonacci retracement levels are see If the downward trend continues, the RUNE on the daily chart is 0.50 (50%) and 0.618 (61.8%). Fibonacci retracement levels are used to identify possible support and resistance points for asset prices, the most common levels being 38.2%, 50%, and 61.8%.

According to Altcoin Sherpa’s chart, the 50% and 61.8% Fibonacci retracement levels are likely to fall just above the RUNE price of $4 and $3.50, respectively.

Source: Altcoin Sherpa/X

RUNE is trading at $4.10 at the time of this writing.

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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 that you are responsible for any losses that may occur. 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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