A popular analyst provides target price updates for a handful of crypto assets as markets struggle to end the week in positive territory.
The pseudonymous trader known as Altcoin Sherpa declare to his 181,400 Twitter followers that after a week of a choppy downward movement, he still believes that Bitcoin (BTC) has enough strength to recover $28,000 in the near future.
“I still hope this low will hold for the time being. I would like to see a higher sustainable high, I will always assume $28,000 is ahead until proven otherwise. »
Bitcoin is trading flat on the day, but at $23,430 it remains 7% below its weekly high of $25,203.
The next chart guru review Ethereum (ETH) against the Bitcoin trading pair, drawing attention to May 2021 and January this year, where ETH was also worth around 0.082400 BTC.
“What do we think, will it go to the top? ETH/BTC again showed incredible strength.
While I think most of the fusion narrative is done, it could still go to the top. »
Ethereum is currently up 2.45% and trading at $1,866, while against Bitcoin it is worth 0.078573 BTC.
Next on the analyst’s radar is BNB, a token native to the popular cryptocurrency exchange Binance. Sherpa Altcoin To put in evidence the $260-$322 price range from last October, while clarifying that it is looking at a potential return of around $250.
“The $200 mid-price could be interesting for this one, it’s still one of the best performing alternatives overall. »
In recent days, BNB has slowly given back some of the strong gains made between the end of July and last weekend. It is down 7.7% from Sunday’s high of $331.08 and is currently trading at $305.39.
As for the Shiba Inu mimic coin (SHIB), the analyst said that the shares fell 7%. it’s which expects another rally from competitor Dogecoin (DOGE) if Bitcoin and Ethereum don’t fail.
“I stand firm and still think another upside will come as long as BTC and ETH stay flat.”
At the time of writing, the Shiba Inu is down nearly 5% and is priced at $0.000015. The altcoin saw an 80% rally between August 9 and 14, going from $0.000010 to $0.000018 before correcting.
Finally, Optimism (OP), a level 2 scaling solution for Ethereum. the crypto strategist costume in his recent call to short the altcoin after its major rally during July, he now says he expects the price to drop below $1.
“Squiggly is going according to plan. Unfortunately, I wasn’t paying attention and didn’t execute my short position.
I expect another bullshit bounce around here if ETH and BTC stay ahead of another nuke. This thing goes 1>, it cuts easy in my opinion. ”
Optimism value was below $0.50 in mid-July before a series of rallies sent it to $2.24 on August 3rd.
Since then, the altcoin has trended lower, currently in the red 2.42% in the last 24 hours with an initial price of $1.33.