A popular crypto strategist and trader comments on what could happen for Cardano (ADA), Shiba Inu (SHIB), Terra (LUNA), The Sandbox (SAND), and Theta Network (THETA) altcoin projects. Cryptocoin. com we are looking at the details. It should be emphasized that the forecasts of the analyst cannot go beyond estimation and the probability of realization is low. Every investor should do their own research carefully and make their investment decisions accordingly.
Shiba Inu and others
Crypto analyst Altcoin Sherpa told his 154,100 Twitter followers that ADA is in a short-term bullish trend after the smart contract platform managed to stay above the support at $1.48. Analyst: “Not a bad place for a long time. The support/resistance level is also the 0.50 Fibonacci level. Still, I don’t like it,” he said. At the time of writing, Cardano is trading at $1.56, down 2.85% in the last 24 hours.
The next altcoin is the popular meme coin Shiba Inu. According to the crypto strategist, if its Dogecoin rival fails to consolidate around $0.000047, he expects SHIB to initiate a quick bounce before continuing the downtrend: “The short-term bottom for SHIB is probably inside. Some kind of lower high is expected to occur. If this 0.50 [Fibonacci level] consolidates, a more explosive move will come (But I think it will take much longer)” he said. SHIB is currently changing hands at $0.000048 at the time of writing.
Another cryptocurrency on the investor’s list is Terra, the decentralized finance (DeFi) payment network, which Altcoin Sherpa says is poised to hit new record highs. “Still a high time frame bullish [market structure] to all-time highs…” Analyst LUNA says.
View for SAND and THETA
The fourth cryptocurrency on the analyst’s radar is blockchain-based gaming ecosystem The Sandbox (SAND). Altcoin Sherpa is preparing two possible scenarios for SAND after the coin prints a bearish alt-high. The analyst says: “Overall, personally, we have a downturn ahead of us, I think we’re going to go down even more. If a higher bottom comes, we will enter some consolidation and then I predict another rise. ”
The latest cryptocurrency is Theta Network (THETA), a peer-to-peer distribution platform for video content. According to altcoin Sherpa, THETA can initiate a massive rally when it gains resistance at $9.61: “When this moves, it will be explosive. It’s been changing for quite some time and I think it usually has its own market cycle. I wouldn’t buy this as an active trade though. ”
