Lately, altcoins have been more robust against crypto star Bitcoin, as they tend to rebound quickly with a slight shift in market sentiment. One of the most popular analysts, Altcoin Sherpa, in his latest video update, lists some of the altcoins that have the potential to surge long in the coming days.
Starting with Dogecoin (DOGE), the analyst says that the price of Dogecoin (DOGE) is currently at crucial support levels between $0.09 and $0.10. The analyst thinks this might be a good time to enter a meaningful long position.
“This area should be a theoretical support area given this high level [slightly above $0.10] which has been defined before. So you can just think of it like this where it’s resistance multiple times and now it’s currently support…this area could theoretically be an entry area,”
Moving on to Binance coin (BNB), the analyst believes the asset will fall to the lower boundary of the range, which is currently trading between $317 and $280 since early December.
“To be honest, choppy price action on shorter timeframes. You can see that high is around $330 and that low is around $260, that’s probably the range right now.. mined several times as support throughout September and October and operated multiple times as resistance as well. I wouldn’t be surprised if maybe the lows return, but around $260,”
Switching to Polygon (MATIC), the trader says that the crypto seems to be triggering a major rally soon, but it is heavily dependent on Bitcoin.
“I think it’s likely we’ll see something more upside as long as Bitcoin holds up. I wouldn’t be surprised to see that kind of increase like the mid $1. But again, it’s really going to depend on Bitcoin,”
Finally, pointing to Fantom (FTM), the analyst says that the token presents a buying opportunity for market participants at the current support level of $0.22.
“I will always check around that 0.5 Fibonacci level]around $0.22 or so…that $0.22 area has a decent level of support and resistance…this is an area I am looking to bid .”