Analyst Says Ethereum-Based Altcoin Set To Skyrocket by Over 100%, Updates Outlook on Chainlink and Fetch.ai
A widely followed crypto analyst and trader is bullish on a top-100 altcoin by market cap.
The analyst pseudonymously known as Altcoin Sherpa tells his 205,600 followers on the X social media platform that he feels “very strongly” that the native token of the non-fungible token (NFT) marketplace and aggregator platform Blur (BLUR) will exceed its all-time high of $1.40, about 110% below the current price, reached in February of 2023.
“BLUR is one of the few ways you can bet on the entire NFT industry going up. Bullish on a lot of NFT infrastructure.”
BLUR is trading at $0.667 at time of writing.
Turning to Chainlink (LINK), Altcoin Sherpa says that he is “still very bullish” on the blockchain oracle as a “solid long-term project” though it is unlikely to offer “mind-melting returns” due to its relatively high market capitalization.
Based on Altcoin Sherpa’s chart on the 12-hour time frame, LINK is likely to trade in a range between roughly $13.50 and $17 in January and February.
Chainlink is trading at $15.80 at time of writing.
Next up is the decentralized artificial intelligence platform for applications Fetch.ai (FET). According to the pseudonymous analyst and trader, FET appears “pretty strong” this year though it is currently undergoing consolidation.
Based on Altcoin Sherpa’s charts, the current support level for FET on the weekly chart is around $0.608 while the closest resistance level is at $0.779.
According to Altcoin Sherpa, FET is currently more suitable for medium-term trading as opposed to short-term.
FET is trading at $0.689 at time of writing.
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Author: Mark Emem
