A popular analyst sets the latest price targets for three cryptocurrencies as the market heads into the weekend.
Pseudonymous Crypto Trader Altcoin Sherpa First investigate Bitcoin (BTC) is in an accumulation phase and could start a major rally in the coming weeks, but bearish sentiment prevails among 182,600 Twitter followers, making this hypothesis unlikely. I am warning you.
“We haven’t seen this bottom yet, but if it does, we expect $18,000 to be taken out regardless.
Some kind of double bottom/longer accumulating bottom are two potential patterns you might see.
Still, the trend is bearish, so don’t expect this. ”
Analyst To tell He keeps a close eye on the $19,000 level as a strong support zone for BTC, but warns inexperienced traders against investing in Bitcoin at that price.
“$19,000 is an area of interest to me and I still think there is a lot of support.
It’s a very unstable environment. I do not recommend trading aggressively unless you know what you are doing. ”
Bitcoin’s price has been on a roller coaster all week and is currently at $19,920.
Altcoin Sherpa Next analyse Ethereum (ETH) surged above $2,000 briefly in mid-August. He sees $1,730 as the zone that could determine the success or failure of his platform as a key smart contract.
“We still think this recent move was a bear market rally, but we will keep an eye on it. [cup and handle] Does the pattern play?
$1,730 is still a strong area to watch. ”
next analyst Offers A chart plotting Ethereum’s Exponential Moving Average (EMA) meanders between four-hour candlesticks dating back to early July. He foresees his breakout above $1,800, but it remains to be seen where ETH will go after that.
“It would be nice to see the EMA reset a bit. I wouldn’t be surprised if this is a relative bottom.
I think it’s going to widen the range a bit more and at least go up to $1,800, but after that I don’t know.
Look at the double top. ”
Ethereum quickly rebounded from last Sunday’s plunge below $1,500 after seeing a mostly positive week of trading.
The current price of ETH is $1,573.
Last on our list of charting experts is Chiliz (CHZ), the utility token of sports fan engagement platform Socios.com. CHZ token is up over 130% since early July.
Altcoin Sherpa I believe Chiliz added that he would inevitably have to retrace after such a massive rally, but he would not be against altcoins just yet.
“We expect this to hit another new high, but overall I think it will probably drop after such a strong performance.
However, we are not going to short circuit here. ”
Chiliz is currently the 50th largest crypto asset by market cap, up 3.90% over the past 24 hours and trading at $0.21.
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