A popular altcoin trader is forecasting rallies for Binance Coin (BNB) and 2 Ethereum (ETH) oppositions consisting of Solana (SOL).
Pseudonymous crypto strategist Altcoin Sherpa informs his 176,000 Twitter fans that BNB, the energy token of crypto exchange Binance, is among the greatest altcoins in the market today.
“BNB: Trade idea, wait for a reclaim of the $340 area and take profit aggressively, likely at $380, $400, and $440 if it comes.”
At time of composing, BNB is altering hands for $328, up almost 3% in the last 24 hr.
Next up is smart contract platform Solana, which Altcoin Sherpa states is poised for a 53% rally as long as Bitcoin (BTC) comes to life.
“I think that Solana is a good one to buy around here as a swing trade. Some notes:
-This is mostly on the idea that BTC goes to $35,000-$40,000 before any new lows
-SOL NFTs [non-fungible tokens] are doing well still
-Risk:reward still seems decent here at these levels, target $75.”
At time of composing, Solana is valued at $49.38, above Altcoin Sherpa’s assistance level of $48.64.
The last coin on the trader’s radar is fellow Ethereum rival Fantom (FTM). According to Altcoin Sherpa, FTM is getting ready for a rally after losing almost 90% of its worth from its all-time high of $3.48.
“FTM: This one got rekt. It’s currently at low timeframe resistance, but I wouldn’t be surprised to see this squeeze higher before dumping more. Buying a reclaim of $0.47 and shorting something around $0.60 sounds like a good idea.”
Fantom is presently trading for $0.41, down over 4% in the previous day.
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