A closely followed crypto expert says XRP could be nearing the finish of a long accumulation before a major breakout, and that rallies could likewise be available for two additional altcoins. The pseudonymous analyst known as Altcoin Sherpa lets his 148,000 supporters know that XRP might be a troublesome trade the short term. However, he says that when the crypto markets begin to incline toward altcoins, XRP could be one of the most impressive moving coins. Based on the Sherpa chart, XRP might enter value disclosure mode after breaking and maintaining the resistance level of $ 1.31.
Besides XRP, the analyst is also looking at the Woo Network (WOO) liquidity platform, a project that rose nearly 50% last week. The trader uses the Fibonacci Extension Tool to predict a local high for WOO at $ 2.08, around 20% of its current price of $ 1.72.
“XRP: Actually, it doesn’t look bad. These candles are low volatility, look a bit like a buildup. Not a large active trade in my opinion but 1 to watch out for. Note: when the alts start to really show up (or BTC), I think it might be very good to buy. The retail industry loves cheap parts.
The third altcoin the analyst is monitoring is DAO Maker (DAO), a project that aims to create a platform for retail companies investing in stocks and tokens. DAO is already up 36% last week.
“I’m going to continue to hold on (hold on for life) for a while – the next resistance is $ 5.”
According to Altcoin Sherpa, DAO is facing resistance which, if broken, could take the crypto to $ 6.20, which would represent an additional gain of 55%.
Binance coin (BNB) is also on the analyst’s radar, the utility token on Binance, the world’s largest crypto exchange. The Sherpa says he is looking at BNB in his Bitcoin (BNB / BTC) pair as a signal of what could happen in the near future.
“BNB: While waiting for the BTC pair to break, both look decent (but the USD is near all-time highs, still a dangerous place). I still expect some sort of reaction with this pair.
Earlier this month, the analyst accurately predicted BNB would climb into the $ 600 level. As of this writing, BNB is changing hands at $ 639. Check Prices Action Don’t Miss a Beat – Subscribe to receive crypto email alerts straight to your inbox Follow us on Twitter, Facebook and Telegram Surf The Daily Hodl Mix
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- Crypto Analyst Forecasts XRP Will Come Out Of Accumulation, Says Two More Altcoins Are Rally Ready
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