Altcoin Sherpa, a closely followed cryptocurrency analyst, maps the potential bottom for an Ethereum (ETH) competitor while predicting bounces for Cosmos (ATOM) and The Graph (GRT). Here are the details…
NEAR by Altcoin Sherpa, ATOM comment
Altcoin Sherpa says Near Protocol (NEAR) is close to forming a local bottom. “I think this will find a short-term bottom to $10 here,” the analyst said. It’s an existing demand area and that also means a PoC (control point)/200-day EMA (exponential moving average) in the volume profile.” NEAR Protocol is designed as a community-run cloud computing platform and seeks to circumvent some limitations such as slow transaction speeds, poor throughput, and poor interoperability.
Another cryptocurrency on the trader’s list was the ATOM native token of Cosmos. Analyst Altcoin Sherpa says ATOM looks “terrible” but expects it to launch a “help rally” as the coin approaches a key support area. “It goes without saying, but most altcoins look lousy and are losing key levels. “I think there should be a temporary bounce for many of them soon, but I don’t expect any changes in the market structure until BTC stabilizes.” As we reported as Kriptokoin.com, the leading cryptocurrency Bitcoin saw the lowest levels of the last 2 months, falling to the level of $ 37,000.
What are the prospects for The Graph?
The next cryptocurrency on the analyst’s radar was The Graph (GRT), a platform that indexes and organizes Blockchain data. GRT is also a famous web3 cryptocurrency. Altcoin Sherpa says that GRT is showing strong signs and now needs to clear its immediate resistance at $0.394 to start a rise of around 30 percent. The analyst argues that if this level is changed, $0.51 can be seen. While he says it’s “strange” that GRT has gotten better lately, he thinks there will be a temporary bottom.
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