A closely followed crypto strategist believes that one top-10 altcoin is about to move another leg up.
Pseudonymous analyst Altcoin Sherpa tells his 215,400 followers on the social media platform X that that he thinks BNB, the native asset of the DeFi protocol Binance Smart Chain, will witness higher prices this year.
He also believes that the expected release next month of Changpeng Zhao (CZ), the former CEO of Binance, could be a bullish catalyst for BNB.
“BNB is still one of the better majors out there right now; also going to coincide with CZ’s release date about a month from now. You can try to get ahead of this by buying BNB and also getting some BNB exposure to shitcoins (aka memes on there).”
Looking at his chart, the trader suggests that BNB could soon flip $612 into a support level.
BNB is trading for $584 at time of writing, up more than 2% in the last 24 hours.
Next up, the analyst is expressing bullish sentiment for Ethereum (ETH) rival Fantom (FTM).
“FTM: extremely strong moves lately. This one got crushed recently but I still think it’s a solid project from a fundamental level with the S (Sonic Network) migration coming. Next target area would be around $0.55, it’s the 200-day EMA (exponential moving average) and S/R (support/resistance) level. Looks decent though.”
Fantom is trading for $0.46 at time of writing, up slightly in the last 24 hours.
Lastly, the analyst says that Solana (SOL) could remain in a trading range between $125 and $150 for a while.
“SOL is still ok but not a great active trade at all. Times like this are best spent accumulating said coin where it’s just doing nothing. $125-$150 remains a good opportunity in my opinion. Scalping something like this is probably not good for 99% of us.”
Solana is trading for $144 at time of writing, up 1.4% in the last 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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The post Major Large-Cap Altcoin on the Cusp of Rallying Further, According to Crypto Trader – Here’s Why appeared first on The Daily Hodl.
