Prominent Crypto Analyst Altcoin Sherpa Predicts Significant Gains
Renowned crypto analyst and strategist Altcoin Sherpa has made bold predictions for the altcoin market in 2023. According to the analyst, high-volume altcoin projects like BNB (BNB), Arbitrum (ARB), and Celestia (TIA) are expected to experience notable growth.
Hopeful Outlook for Binance’s BNB
The anonymous crypto analyst, known as Altcoin Sherpa, shared insights on BNB’s potential for the year. Despite acknowledging short-term uncertainties, Altcoin Sherpa remains optimistic about a major breakout for BNB in 2023. The analyst suggests:
“I think BNB can be bought around $285. The current zone is dubious and the entire market is shaky right now. Still, I am on the side that expects a rise in BNB. I believe we will see strong gains in BNB mostly through Binance launchpad projects and more in 2024.”
Examining the BNB chart provided by Altcoin Sherpa, crucial support levels at the Fibonacci retracement are identified at $305.9 (Fib 0.236) and $286 (Fib 0.382). As of the time of writing, BNB was trading at $307.45, reflecting a 1.94% decrease in the last 24 hours.
Expecting Continued Progress for Arbitrum (ARB) and Celestia (TIA)
Following the analysis on BNB, Altcoin Sherpa focuses on Arbitrum (ARB), Ethereum’s Layer 2 scaling solution. The analyst anticipates a long-term uptrend for ARB but expects short-term pullbacks. Altcoin Sherpa mentions:
“I think ARB is still strong and the price has some clear ranges. I might start buying at $1.80, which would be a good starting point. If things go south, it could pull back to $1.60. In that case, I would buy ARB from there. Nonetheless, it would not be wrong to say that the altcoin is clearly on an uptrend in higher time frames.”
ARB was trading at $1.77, reflecting a 6.35% decrease in the last 24 hours, closely aligning with the analyst’s suggested level of $1.80.
Altcoin Sherpa also expresses positive expectations for Celestia (TIA), a Blockchain network designed for decentralized networks with minimal fees. The analyst states:
“To be realistic, these things usually continue strong when they rise. TIA has been consolidating for a while, and I think the next wave of rise is on its way, coming. Enter your bids above $14.30, maybe it comes, and you find a buying opportunity.”
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