A closely-watched analyst predicts a strong recovery for leading smart contract platform Ethereum (ETH) and two more altcoins as crypto markets rebound.
Pseudonymous Altcoin analyst Sherpa tells his 180,600 Twitter followers that he thinks Ethereum has more gas in its tank despite doubling in value in less than two months.
“ETH: I expect Ethereum to hit $2,200 in the medium term, but we’ll see if it can break above this current support/resistance level ($1,720). The longer it lasts here, the more optimistic I am in the short/medium term. Still don’t think it’s ‘the bottom’ though.
At the time of writing, Ethereum is changing hands for $1,702.
Next up is the popular blockchain-based game Axie Infinity (AXS). Altcoin Sherpa thinks Axie Infinity has room to spark a relief rally, but remains cautious about whether AXS can actually hit its massive target.
“What do we think of this type of idea? I don’t know if it has the juice to hit $40, but I could definitely see some sort of bear market rally if BTC does well.
At the time of writing, AXS is trading hands for $18.78, almost 135% below Altcoin Sherpa’s target of $44.
“APPEARS: interesting price action; the four-hour exponential moving averages all clump together and the price swings back and forth. I think that still looks correct. [It] wouldn’t surprise me to see 50%+ if BTC plays well.
At the time of writing, LOOKS is trading at $0.40.
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