Bitcoin is still bullish and these 3 altcoins will be ahead of the altcoin season, says altcoin trader Sherpa
Altcoin trader Sherpa believes the bitcoin bull market will remain active and is predicting an early altcoin season for multiple cryptocurrencies.
Turning to Bitcoin (BTC), traders are predicting a decline that could be less than it was in 2020 because the market landscape is different.
BTC’s recent pullback measures just under 14%, while the pre-bull pullback in 2020 is 17%.
BTC: Market structure, context and charts are all different from the price action that broke the $ 20,000 resistance in 2020. The last pullback this year was not that deep as the price hovered near the ATH level. Just increase. “
Withdrawal November 2021. Source: AltcoinSherpa / Twitter
Withdrawal 2020. Source: AltcoinSherpa / Twitter
At Altcoins, traders on the decentralized streaming platform Theta are optimistic. According to him, THETA may be preparing to recover and anticipate the rise of many altcoins in space.
“I think this coin will go to the moon earlier than other altcoins. It’s longer than most in a cumulative range and has been without a pump for a while.
I expect many altcoins to behave similarly to SNX in 2020. V-shaped reversal / accumulation / expansion. “
THETA diagram. Source: AltcoinSherpa / Twitter
SNX diagram. Source: AltcoinSherpa / Twitter
He added that THETA tends to move in its own way, which sets it apart from the rest of the overall crypto market.
“THETA is one of those coins that can perform better. It consolidates longer than others and also has its own market cycle. “
THETA is currently trading at $ 8.06.
Sherpa also looks at Algorand, realizing that it could be fighting Bitcoin if it is struggling to break out of a sideways range.
“ALGO: I think it will continue to consolidate. Not sure if it will outperform BTC seems unlikely.
Source: AltcoinSherpa / Twitter
Finally, he looks at the blockchain indexing protocol The Graph. After highlighting that the token was showing signs of accumulation, Sherpa stated that GRT may be about to take off.
“GRT: This altcoin seems to be showing some signs of accumulation. Volume comes. I wouldn’t mind expanding here for passive trading. “
Source: AltcoinSherpa / Twitter
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
Annie
According to Dailyhodl
Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page
