Looks like the crypto market is finally out of the woods as Bitcoin has increased by 10%. Day traders’ favourite altcoins, ETH, LUNA, and ATOM, are also up and to the right. Even if entire investments is in the red, the trading lines are green.
Cardano (ADA), Polkadot (DOT), Terra (LUNA), and four more altcoins are all on the horizon, according to a well-known crypto analyst.
Altcoin Sherpa, a pseudonymous analyst, tells his Twitter followers that he’s looking at where the price of smart contract platform Cardano may potentially bounce.
He says because everyone is just exposed to altcoins, he is going to do a number of alt charts where he believe there is decent support. That isn’t to say there won’t be rebounds before then, but these are significant levels of support where prices could end up. He marks $0.40 as a support for ADA.
The trader believes that the $1.00 level for Cardano will hold, but that if it does not, ADA will fall below $0.40.
The interoperable blockchain Polkadot (DOT), according to Altcoin Sherpa, could find support at $15.
DOT is trading at $18.67 up by 5.2% in the last 24 hours. The resistance is at $19 and the support is at $17.4.
Next up is Cosmos (ATOM), a decentralised alternative blockchain network that Altcoin Sherpa believes might reach $20 in the near future.
Terra, a decentralised finance (DeFi) payment network, is another altcoin on the traders’ list. The range between $30 and $40, according to Altcoin Sherpa, can serve as a significant support level for LUNA.
LUNA is trading at $64.37 down by 2.7% in the last 24 hours. The resistance on tbe upside is at $69 and the support is at $62.
Next up is Dogecoin (DOGE), a meme cryptocurrency that Altcoin Sherpa predicts may spark a sell-off if it falls below support at $0.128. The support is at $0.05.
At the time of writing, DOGE is trading at $0.143 up by 2.4% in the last 24 hours. The token has traded in the range of $0.146 – $0.133.
Axie Infinity (AXS)
Axie Infinity, a play-to-earn blockchain-based game, is also on Altcoin Sherpa’s radar (AXS). AXS is expected to hold support around $35, according to the crypto trader.
AXS is now trading at $50.94 down by 1.1% in the last 24 hours. The resistance is at $52 and the support is at $49.
Chainlink, a decentralised oracle network, is the last coin on the trader’s radar (LINK). LINK could see a turnaround near $12, according to the crypto expert.