Trader Says Altcoin That’s Doubled in Less Than a Week Could Go Higher, Outlines Path Forward for Sui
A intently adopted crypto strategist believes a red-hot altcoin mission has extra upside potential.
Pseudonymous analyst Altcoin Sherpa tells his 206,900 followers on the social media platform X that the native token of modular blockchain Dymension (DYM) might quickly revisit greater ranges after a retracement.
“DYM: closed all of this yesterday, not going to spherical journey revenue proper now.
It’s nonetheless a bit uneven and never a big fan of the place BTC is. Nonetheless assume this might go greater however going to be affected person for now.”
Taking a look at his chart, the dealer means that DYM is holding the $7.05 degree as help and will rally to $7.39 based mostly on Fibonacci retracement ranges.
Dymension is buying and selling at $7.11 at time of writing, up from a low of $3.54 on February sixth, a acquire of greater than 100%.
Subsequent up, the dealer predicts that the layer-1 blockchain Sui Community (SUI) will enhance greater than 10% from its present worth.
“SUI: this will hit $2 eventually, feel pretty strongly about it. Low time frames still look pretty strong and it’s important to remember there are all different types of consolidation patterns.”
Taking a look at his chart, the dealer means that SUI stays in an uptrend as a number of exponential shifting averages (EMAs) proceed to rise.
SUI is buying and selling for $1.81 at time of writing, up almost 7% in the final 24 hours.
Lastly, the dealer says Bitcoin (BTC) is going through a vital second because it touches the $50,000 degree on Monday.
“BTC: moment of truth here. You want to see this clearly smash through AND HAVE FOLLOW UP. If this is a quick deviation, be extremely careful. Still bullish on high time frames but let’s see what happens.”
Taking a look at his chart, the dealer means that if Bitcoin can convincingly break the $50,000 degree it’ll stay in an uptrend, in any other case he suggests Bitcoin might appropriate right down to round $46,000.
Bitcoin is buying and selling for $49,624 at time of writing, up greater than 3% in the final 24 hours.
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