Altcoin Sherpa Draws Local Bottoms For DOGE, ATOM and LRC
A popular cryptocurrency analyst and trader, known as Altcoin Sherpa, draws key levels where Dogecoin (DOGE), Cosmos (ATOM) and Loopring (LRC) could hit local bottoms. He also updates Bitcoin (BTC).
Dogecoin (DOGE)
Altcoin Sherpa shared with his 149K followers on Twitter that meme crypto Dogecoin is likely to continue its correction against Bitcoin (DOGE/BTC).
“This is just painful lol [laughing out loud].. looking for those swing lows at 330 [0.00000330 BTC].”
DOGE/BTC is trading at the time of writing at 0.000003969 BTC.
Cosmos (ATOM)
Altcoin Sherpa is also looking into Cosmos, a project often referred to as the “internet of blockchains.” According to the analyst Cosmos will correct against Bitcoin (ATOM/BTC) all the way to his entry zone around 0.0004 BTC.
“ATOM: still pretty neutral on this. I think it goes down a bit more w[ith] the BTC pair and then chops (at best) for the USD pair. More likely down vs. up though IMO, doesn’t look like accumulation to me.”
$ATOM: Still pretty neutral on this, I think it goes down a bit more w. the BTC pair and then chops (at best) for USD pair. More likely down vs. up though IMO, doesnt look like accumulation to me. #ATOMpic.twitter.com/ReyaD8l3U9
The third and last altcoin on the trader’s list is Loopring (LRC), a blockchain that enables anyone to create a decentralized exchange. Altcoin Sherpa is looking to scale into LRC at $2.48 and $2.07.
“LRC: I feel comfortable with this. I’m bidding a bit lower at the 0.382 and 0.50 [Fibonacci levels].”
While Altcoin Sherpa is bullish on the leading crypto asset Bitcoin (BTC), but he warns that move below $60K level might trigger a massive sell-off event.
“One bad thing is that this $60,000 area has been bid a lot in a short amount of time. If $60,000 falls, $50,000 should come swiftly (knowing how these things go). The last true low we had formed at $45,000 so as long as we’re higher, I’m still bullish in the midterm.”
One bad thing is that this 60k area has been bid a lot in a short amount of time. If 60k falls, 50k should come swiftly (knowing how these things go). The last true low we had formed at $45k so as long as we're higher, I'm still bullish in the mid term. pic.twitter.com/VTrMnADeEK
