Altcoins
Altcoins are all set to explode by 2300%! Have you stacked them yet?
Analyst Sheldon recently explained how and why a sideways market movement could indicate either a continuation or a reversal. He observed some altcoins‘ performance against Bitcoin, noting their strength and potential for outperformance. In his latest analysis video, the analyst said that several altcoins are poised to rise and take center stage.
The analyst discussed Theta and recalled its previous stunning rally. During its surge, Theta rose from around 90 cents to $3.50, representing a staggering 2,300% gain. He expects a similar trend to unfold, projecting a strong upward move from $2 to $5, with even higher targets set at $7.
Injective is another token that it has put in the spotlight, highlighting its positioning in the short and medium term buying zones. He warned of potential setbacks if Bitcoin decrease of 2 to 3%. However, once the trend is confirmed, he expects Injective to rise similarly to Kaspa, possibly reaching the $40 mark in the near term and preparing for an eventual move to $70.
Another token, Cetus, known for its strong fundamentals, is also on its radar. He advised and considered adding more if the trend continues on the daily chart, forecasting targets around 16 cents in the short term and 30 cents in the longer term, representing a potential 3x increase.
He pointed out that tokens like BNB are breaking their all-time highs, indicating major market strength. Applying top-down Fibonacci analysis, he observed that BNB had tested level 61a and was now surpassing previous highs. He projected potential targets of $1,000 and $1,500 for BNB.
Next on his list was Solana. He suggested a possible small retest, but placed emphasis on rash detection, targeting a range between $240 and $280 for SOL. He advised buying on pullbacks to around $170, with a suggested stop loss at $160.
Also discover: Bitcoin Alert: Short-Term Correction Ahead! Top analyst signals key support at $68,500