Altcoin Sherpa Projects Rally For NEAR, Updates ETH And BTC
According to a prominent cryptocurrency analyst, known as Altcoin Sherpa, Ethereum (ETH) might still be in a consolidation phase despite its recent bullish momentum. However, NEAR Protocol (NEAR) looks bullish.
NEAR Protocol (NEAR)
The analyst shared with his 168,000 followers on Twitter that he’s looking into NEAR Protocol – a smart contract-capable proof-of-stake (PoS) blockchain.
The price of the protocol’s native token NEAR has been stagnant for the past month or so, currently trading at $11.31. However, Altcoin Sherpa believes that we are at a good entry level, assuming the current level holds as support.
“NEAR: This is still an area that is interesting to me. .786 fibonacci, 200D [exponential moving average], etc. $10-$11 remains an area that I’d like to see as support. I still have bids lower in case this nukes but overall, looks decent.”
$NEAR: This is still an area that is interesting to me. 786 fib, 200D EMA, etc. 10-11 remains an area that I'd like to see as support. I still have bids lower in case this nukes but overall, looks decent. #NEARpic.twitter.com/9K7FhjfKuU
Regarding Ethereum, Altcoin Sherpa notes that while ETH is again at $3,000 level, there’s still a good chance that needs more time to consolidate and possibly touch new lows before launching another rally. He looks at the current price action side by side with 2018.
“I think that true macro bottoms take a long time to form – weeks or months. With that said, you can still have lower highs that can go 2x+- see Ethereum in 2018.”
$ETH: I think that true macro bottoms take a long time to form- weeks or months. With that said, you can still have lower highs that can go 2x+- see #Ethereum in 2018. pic.twitter.com/kbYaopBRWR
Looking into Bitcoin, the analyst is says that the leading digital asset looks strong in the short term, but still has a way to go to move past the 200-day moving average.
“BTC: One thing that is interesting to me is that the 4h EMAs all look nearly reset for this. The 1D still needs to be reclaimed for the 200D (moving average) but overall, things look ok in the short term…”
$BTC: One thing that is interesting to me is that the 4h EMAs all look nearly reset for this. The 1D still needs to be reclaimed for the 200D but overall, things look ok in the short term… #Bitcoinpic.twitter.com/8b7jfKcz7H
