Trader Predicts Fresh Rallies for Dogecoin and One Ethereum-Based Altcoin, Updates Outlook on Two Crypto Assets
A broadly adopted crypto strategist believes that high meme token Dogecoin (DOGE) appears bullish even after final week’s marketwide correction.
Pseudonymous analyst Altcoin Sherpa tells his 214,100 followers on the social media platform X that DOGE has managed to remain above a key help stage on the weekly chart even after dropping to a seven-day low of $0.169.
With the weekly help intact, the dealer now sees DOGE igniting a virtually 60% rally from present ranges.
“DOGE: held above [the] weekly stage for now, resume the pump to $0.32.
I feel being lengthy DOGE is a totally cheap concept and I feel that its one of many safer trades you are able to do. In all probability outperforms lots of different stuff too, to be trustworthy.”
At time of writing, DOGE is buying and selling for $0.197.
Subsequent up, the analyst can also be bullish on the native asset of the Ethereum (ETH)-based decentralized liquid staking protocol Ether.fi (ETHFI). Altcoin Sherpa says ETHFI is able to bounce so long as it trades above $4.75.
“ETHFI: I bought around here. I like the chart + it’s a new coin and looks like it’s forming a mid-term bottom. Will be selling this around $6.70-ish with a stop below the lows (high time frame close below $4.75 = I’m out).”
At time of writing, ETHFI is price $5.69.
The dealer can also be protecting a detailed watch on the cross-chain messaging protocol Wormhole (W). The analyst shares a chart suggesting that W is forming a rounding backside reversal sample on the hourly time-frame.
“W: I want to buy this on the way up. Could be good. I still believe this will be up several multiples in the next few weeks as long as BTC is stable.”
At time of writing, W is buying and selling for $0.995.
The final altcoin on the analyst’s radar is Promenade (PROM), a layer-2 protocol designed to allow interoperability between blockchains. In keeping with Altcoin Sherpa, PROM seems to be buying and selling in a variety between $9.50 and $14.95.
“PROM: this is a coin I bought and I traded it a lot back in 2021. Currently consolidating in this range and I don’t see any true break *yet*. Would wait for price to either tap the lows at $9.50 or break the highs above $16.”
At time of writing, PROM is price $14.25.
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