Anticipated Double-Digit Dogecoin Surge: Analyst Sets Targets for High-Performing Altcoin with Impressive 70% Monthly Growth
Prominent Crypto Trader Forecasts Ongoing Dogecoin (DOGE) Growth and Reassesses Momentum of Popular Altcoin
Altcoin Sherpa, a well-known pseudonymous trader, shares bullish insights with 196,300 Twitter followers, projecting a potential 20% surge for Dogecoin (DOGE) in the near term, starting from its current value of $0.077.
According to Altcoin Sherpa, DOGE stands out as one of the robust altcoins in the market. While uncertain about specific support levels, the trader envisions the possibility of DOGE grinding higher, potentially reaching $0.09 in the short term.
"Altcoin Sherpa Observes Favorable Entry Point for Dogecoin (DOGE) at $0.075, Highlighting 200-day EMA and S/R Level"
Altcoin Sherpa, a prominent trader, discloses a keen interest in Dogecoin (DOGE) and identifies the 200-day exponential moving average (EMA) at $0.075 as a crucial support/resistance level (S/R) for potential buying opportunities.
"Decentralized Finance (DeFi) Gem Maker (MKR) Captures Trader's Attention Amidst Strong Performance"
Altcoin Sherpa also focuses on Maker (MKR), a DeFi protocol powering stablecoin-based loans through smart contracts. He closely monitors four key price levels - $1,299, $1,150, $963, and $819 - expecting some price fluctuation. Despite its underperformance earlier, MKR has emerged as a top-performing asset in recent weeks, catching the trader's interest for a possible entry.
"Maker Surges to $1,141, Marking a 69% Increase from June 28th Low"
Currently trading at $1,141, Maker (MKR) has shown an impressive 69% rise since hitting a low of $676 on June 28th.
Bitcoin (BTC) Price Analysis by Prominent Trader
The trader also shares insights on Bitcoin's (BTC) price action, observing a crucial retesting of the 200-day exponential moving average (EMA). Should Bitcoin break above the 200-day EMA, the trader foresees a potential rally to the $30,400 level. However, if it faces rejection, the trader predicts a downside with Bitcoin potentially collapsing to $27,800.
"BTC: Decision Time Near - Caution Advised, Awaiting Range Low Reclaim"
The trader emphasizes that it's a critical moment for BTC and personally refrains from buying at this point. Instead, they suggest waiting for a reclaim of the range low before feeling comfortable with BTC's price movement, setting the desired threshold at $30,000."
"Bitcoin Price Update: Currently at $29,225, Experiencing a 0.9% Decline in the Last 24 Hours"
At the time of writing, Bitcoin's price stands at $29,225, showing a 0.9% decrease over the past 24 hours.
"Blockchain Oracle Chainlink (LINK) Analysis: Potential Revisit to Price Range with Price Projection"
The trader evaluates Chainlink (LINK) and suggests the possibility of it revisiting its established price range, indicating an upper bound of $9.33 and a lower bound of $5.33. From its current value of $7.98, the trader predicts a potential dip to at least $6.50.
"LINK: Exercise Patience and Consider Strategic Bidding at $6.50 or Lower"
The trader advises patience with Chainlink's movement, highlighting the opportunity to bid at $6.50 or even lower. Additionally, they mention the current position being the equilibrium (EQ) of the range, which could influence one's bidding strategy.
Jul 28, 2023