What’s the Future of Altcoins like Ordinals, Stacks, and Beam?
Are you curious about the altcoin setups and outlook for Ordinals (ORDI), Stacks (STX), and Beam (BEAM)? A prominent crypto analyst has shared some intriguing insights on these altcoins, including one that could potentially soar in the upcoming months.
Spotlight on Ordinals (ORDI)
Let’s start with Ordinals (ORDI), a token that operates on the Bitcoin (BTC) ordinals protocol. The crypto analyst suggested that ORDI is on the verge of a significant surge, possibly reaching the $60 mark, which would be his cue to start exiting the trade. He mentioned his acquisition of ORDI at $47, noting that he missed the dip to $42, but was nonetheless satisfied with his purchase. He expressed a strong preference for such setups, hinting at a potential scale-out at $60. As of the time of writing, ORDI is trading at $56.25, reflecting an 11.33% dip on the day.
Keeping an Eye on Stacks (STX)
Moving on to Stacks (STX), a project designed to facilitate smart contracts and other decentralized finance (DeFi) applications on Bitcoin. The analyst suggested that traders should monitor the $0.84 to $0.94 range as a potential entry point for a long position. He expressed his intention to consider a trade setup around $0.94 or lower, with half of the position at $0.94 and the other half at $0.84, the .50 Fibonacci level of the range. At the time of writing, STX is trading at $1.04, marking a 12.3% decrease in the last 24 hours.
The Rising Star: Beam (BEAM)
Lastly, the analyst is keeping tabs on Beam (BEAM), a crypto gaming project launched by the Merit Circle decentralized autonomous organization (DAO). He projected that BEAM could experience a substantial rise in the coming months. He referred to the old MC (Merit Circle) chart on Kraken for its price history, noting that the current area is at a stopping point with past wicks. However, he remains optimistic about BEAM’s potential to ascend significantly in the near future. BEAM is currently trading at $0.015, indicating a 20% increase on the day.
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Please note: The information provided in this article is not investment advice. Always conduct thorough research and consider your risk tolerance before investing in cryptocurrencies or digital assets.