A broadly adopted crypto analyst is updating his outlook on one red-hot Solana (SOL)-based memecoin.
Pseudonymous crypto strategist Altcoin Sherpa tells his 201,400 followers on the social media platform X that Shiba Inu (SHIB) rival Bonk (BONK) might nonetheless have extra upside potential after an enormous rally.
“BONK: bulk of transfer most likely over, however I feel this might additionally simply proceed. In brief, I do not know and it’s extraordinarily laborious to ever predict these memes. I don’t suppose it’s best to brief this factor proper now although, even whether it is in an excellent space for pullback.”
Wanting on the dealer’s chart, BONK was retesting a key degree Thursday at $0.0000147 after a dip down. Nevertheless, BONK later soared and is buying and selling for $0.00002864 at time of writing, greater than 1,219% from its November fifteenth shut at $0.00000217.
Subsequent up, the dealer says that synthetic intelligence (AI)-focused altcoin Fetch.ai (FET) might transfer one other leg up after flipping a resistance degree at $0.60 into assist and nearing a key degree at $0.77.
“FET: present degree is attention-grabbing, however I’m nonetheless not going to be shopping for round right here. I’m nonetheless in search of my essential AI play for this cycle to be trustworthy. I’ve different baggage and narratives packed however not this one (but). $0.90 appears seemingly within the mid-term to be trustworthy.”
FET is buying and selling for $0.72 at time of writing, up 9.2% within the final 24 hours.
Lastly, the dealer says that Ethereum (ETH) competitor Avalanche (AVAX) might dip all the way down to $30 based mostly on Fibonacci retracement ranges and the 200-day exponential transferring common (EMA).
“AVAX: the 200 EMA on the four-hour will get tapped ultimately. I don’t know when however I might be affected person. Search for $30 and decrease ultimately if that is the mid-term high. I’ve a spot bag of AVAX that I plan to maintain holding for some time.”
AVAX is buying and selling for $39.54 at time of writing, up barely within the final 24 hours.
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