Altcoin Sherpa Plots Next Moves For Chainlink, Litecoin And 2 Other Altcoins
A prominent crypto analyst and trader, known as Altcoin Sherpa, draws the next steps for Chainlink (LINK), Litecoin (LTC) and two more altcoins: dYdX and Kusama (KSM).
Litecoin (LTC)
Altcoin Sherpa shares with his 145K followers on Twitter that Litecoin has a resistance level at around $290 level, which if it manages to break a further rally to $350 would be in the cards.
“LTC: If we clear this area I would not be surprised to see mid-$300s after.”
Altcoin Sherpa is also looking into decentralized oracle network Chainlink (LINK). The altcoin has faced strong rejection at $34 resistance level which is has failed to break three times. The analyst’s next target for LINK after the $34 mark is $42.
At the time of writing, LINK trades at $33.88, after breaking $34 and rallied to around $38 and the correcting to current levels.
dYdX (DYDX)
Next up on the list is DYDX, the governance token of the dYdX decentralized exchange (DEX). The analyst says that there is less hype surrounding DYDX than usual, which might signal that it’s ready for an under-the-radar move.
“DYDX: Still a good project. When people don’t care about it and it’s accumulating, it’s probably time to buy. Not an active trade but a fine one to just buy and hold for a few weeks. Depends on your overall timeline.”
$DYDX: Still a good project. When people dont care about it and its accumulating, it's probably time to buy. Not an active trade but a fine one to just buy and hold for a few weeks. Depends on your overall timeline. pic.twitter.com/E7j57xLeN0
The last coin on Altcoin Sherpa’s radar is Polkadot canary network Kusama (KSM). According to the trader it’s unlikely that KSM will outperform Bitcoin in the near future, but he predicts a new all-time high for the altcoin after BTC moves to higher levels.
“KSM: Expecting this to grind up but don’t think it will outperform BTC. USD [US dollar] pair likely all-time highs when BTC moves.”
$KSM: Expecting this to grind up but dont think it will outperform btc. USD pair likely all time highs when btc moves. pic.twitter.com/WvZILJVR2i
