Altcoin Sherpa Looks Into What’s Next For ADA, SHIB, LUNA, SAND And THETA
A popular cryptocurrency analyst and trader, known as Altcoin Sherpa, is looking into Cardano (ADA), Shiba Inu (SHIB), Terra (LUNA), The Sandbox (SAND) and Theta Network (THETA), and predicts what’s next for the five altcoins.
Cardano (ADA)
Altcoin Sherpa shared with his 154K followers on Twitter that he believes ADA could make bullish moves on the short term he, after the smart contract platform managed to remain above support at $1.48.
“ADA: Not a bad place for a long. S/R (support/resistance) level, 0.50 Fibonacci level too. I still wouldn’t hodl this though. It would be a swing trade.”
$ADA: Not a bad place for a long. S/R level, .50 fib level too. I still wouldnt hodl this though, it would be a swing trade. #Cardanopic.twitter.com/DELeT7GNiX
At time of writing, Cardano (ADA) is trading at $1.55, down 8% on the weekly chart.
Shiba Inu (SHIB)
According to Altcoin Sherpa, Shiba Inu (SHIB) to make a quick bounce before continuing its downtrend unless the it manages to consolidate around $0.000047.
“SHIB: Short-term bottom is probably in. Expecting some sort of lower high to form. If this consolidates at the 0.50 [Fibonacci level], a more explosive move will come (But it’s going to take a much longer time in my opinion).”
$SHIB: Short term bottom is probably in. Expecting some sort of lower high to form. If this consolidates at the .50, a more explosive move will come (But its going to take a much longer time IMO). pic.twitter.com/CiJECty6FV
SHIB is currently trading at $0.00004295 with 10% loss on a daily chart.
Terra (LUNA)
The analyst is also looking into decentralized finance (DeFi) payment network Terra, which according Altcoin Sherpa looks ready to break new record highs.
“LUNA: Still a high time frame bullish, send to all-time highs.”
Regarding blockchain-based game ecosystem The Sandbox (SAND), the analyst has two potential scenarios for SAND after the altcoin formed a bearish lower high structure.
“SAND: My plans are below. Let’s see where this goes. In general, I personally think a lower high just got printed, and we’re going to go lower. If a higher low comes, we will enter some consolidation, and then I’m guessing another push higher.”
$SAND: My plans are below. Let's see where this goes in general, I personally think a lower high just got printed and we're going to go lower. If a higher low comes, we will enter some consolidation and then I'm guessing another push higher. #SANDpic.twitter.com/0g4vvmNwRo
According to the analyst, Theta Network’s native toke THETA could launch a huge rally once it clears resistance at $9.61.
“THETA: When this moves it will be explosive. It’s been ranging for quite some time, and I think that this one usually has its own market cycle. I would not buy this as an active trade though.”
$THETA: When this moves it will be explosive. Its been ranging for quite some time and I think that this 1 usually has its own market cycle. I would not buy this as an active trade though. #THETApic.twitter.com/7erYgi4FfA
