A widely followed crypto analyst says that Dogecoin (DOGE) rival Shiba Inu (SHIB) and one Ethereum (ETH) rival will have strong rallies during this market cycle.
Analyst says Shiba (SHIB) could rise hard
Crypto analyst nicknamed Altcoin Sherpa tells his 172,000 Twitter followers that he is sitting tight in a SHIB stack and waiting for a price burst. According to Sherpa’s analysis, SHIB is trading in a wedge pattern and poised for a potential breakout:
I still have SHIB in my bag and I’m still moving forward with DCA [dollar-cost averaging] and just averaging. I still believe that at the end of this cycle it will be difficult. Might be wrong, but let’s see.
Altcoin Sherpa says that unlike other analysts who think the crypto market has ended its bull cycle, altcoins have one more move and he thinks Bitcoin (BTC) will eventually stabilize.
Altcoin Sherpa thinks NEAR will lead the next rally
Sherpa is also exploring the decentralized application platform Near Protocol (NEAR). According to the analyst, NEAR will be one of the strongest players when the markets wake up:
If you believe NEAR is one of the strongest, I think $15 is good for DCA. I am personally in the trade and will hold this to all-time highs in the past. As for
Ethereum (ETH), Altcoin Sherpa is taking an opposite stance amid an otherwise cautious market sentiment. He says ETH’s chart looks strong as it holds the 200-day exponential moving average (EMA) as support:
I think people are getting overly emotional. I still think this chart looks pretty good. The 200-day EMA still supports the bullish market structure on the one-day chart. I still think this is good.
As we have included in the analysis of Cryptokoin.com, Near (NEAR) has reached the $16.5 region with an increase of 7% in the last 24-hour period. Despite the wider market correction on April 11, NEAR remains supported by strong fundamentals and the uptrend has not faded as a new ATH approaches each day. While Bitcoin and Ethereum are trading at a halving from ATH levels, NEAR is down only 20% from the price of ATH.
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