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Crypto Analyst Warns Deep Corrections in Sight for Waves (WAVES), Apecoin (APE) and One More Altcoin

Crypto Analyst Warns Deep Corrections in Sight for Waves (WAVES), Apecoin (APE) and One More Altcoin

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Source: Daily Hodle

Crypto Analyst Warns Deep Corrections in Sight for Waves (WAVES), Apecoin (APE) and One More Altcoin

A closely followed crypto strategist is predicting deep pullbacks for Waves (WAVES), ApeCoin (APE) and one other altcoin as the digital asset market takes a breather.

Pseudonymous strategist Altcoin Sherpa tells his 171,500 Twitter followers that he sees custom token and decentralized application creation platform Waves correcting all the way down to $20.

“WAVES: Say goodnight.”

Source: Altcoin Sherpa/Twitter

With Waves currently exchanging hands for $29.41, Altcoin Sherpa’s target represents a 32% potential downside.

Next up is APE, an altcoin created for the Bored Ape Yacht Club non-fungible token (NFT) community. According to Altcoin Sherpa, APE could retrace back to $9.50, which is about 17.5% below its current price.

“APE: Long out of my position; would be willing to buy this one much lower. $8.00 or so. There should be a bounce at $9.50ish though, likely a good scalp entry.”

Source: Altcoin Sherpa/Twitter

ApeCoin is trading for $11.53 at time of writing,

The trader is also keeping a close eye on Zilliqa (ZIL), a smart contract-enabled blockchain for enterprise solutions. He says that ZIL could further correct to $0.11 after posting a massive 375% rally that saw it spike from $0.05 to $0.218 in just a few days.

“Better to short these types of coins than BTC if you think BTC is bearish. [The] reason is that these had their blowoff tops already and will likely go down if BTC pumps and dump even harder if BTC dumps. Target =$0.11.”

At time of writing, ZIL is valued at $0.127. A correction to Altcoin Sherpa’s target marks a downside risk of nearly 15%.

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Featured Image: Shutterstock/Nathapol Kongseang/Natalia Siiatovskaia

The post Crypto Analyst Warns Deep Corrections in Sight for Waves (WAVES), Apecoin (APE) and One More Altcoin appeared first on The Daily Hodl.

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Author: Daily Hodl Staff