A prominent crypto analyst has hinted at the potential for a major price surge for an Ethereum-based mid-cap altcoin. Known by the alias Altcoin Sherpa, the trader has a substantial following of 196,300 on the social platform X, where he shares his predictions.
Chainlink (LINK) Poised for Breakout?
Chainlink (LINK), a blockchain oracle, has been identified by Altcoin Sherpa as a likely candidate for a breakout from its months-long trading range during the next bull market cycle. The analyst argues that LINK, which he describes as one of the finest crypto projects and a core infrastructure for thousands of projects, is set to “do big numbers” in the next cycle. However, he suggests it’s not currently an ideal trading vehicle.
As per his chart, LINK has been trading since May 2022 within a range between $5.52 and $9.33.
Bitcoin (BTC) Set to Cross the 200-Day Simple Moving Average?
Altcoin Sherpa further forecasts that Bitcoin (BTC) will likely cross the 200-day simple moving average (SMA), an indication of bullishness. The trader suggests that Bitcoin could break out to $26,700, then retest the $26,300 level before rallying to $28,000 by September 18th. At the time of his predictions, Bitcoin was trading at $26,666, up 1.3% over the last 24 hours.
Polygon (MATIC) Could Face a 42% Drop
The trader also shares his views on the scaling solution, Polygon (MATIC). He anticipates a potential decline of more than 42% if it loses support at the $0.50 level due to dwindling trading interest. At the time of his analysis, MATIC was trading at $0.52, up 1.3% over the last 24 hours.
Lastly, Altcoin Sherpa predicts a plunge for the native token of the Bored Ape Yacht Club community, ApeCoin (APE), as it retests the $1.14 level. He advises against locking coins up in general and expresses skepticism about APE’s prospects. APE was trading at $1.14 at the time of his comments, up 0.1% over the last 24 hours.
For those interested in tracking these predictions and more, the cryptoview.io application provides a comprehensive view of the crypto market. Explore cryptoview.io now
