Crypto Analyst Predicts More Rallies for Ethereum-Based Altcoin, Says Crazy Moves Ahead for Bitcoin (BTC)
A closely followed crypto strategist says more rallies are likely in sight for a low-cap altcoin running on the Ethereum (ETH) blockchain.
Pseudonymous analyst Altcoin Sherpa tells his 196,700 followers on the social media platform X that the native asset of the image-synthesizing ecosystem Render Network (RNDR) is likely due for a 33% rally from its current level.
The trader shares a chart showing how RNDR has converted its previous resistance at $1.80 into support with multiple exponential moving averages buoying the Ethereum-based altcoin’s uptrend.
“RNDR trade going well. Going to be selling all the way up to $2.40.”
At time of writing, RNDR is trading for $1.80, down over 2% in the last 24 hours.
Looking at Bitcoin (BTC), Altcoin Sherpa says that the flagship crypto could witness a notable surge in volatility toward the end of the year. The crypto strategist lays out two scenarios for Bitcoin – both of which depend on how BTC reacts should it hit $30,000.
“BTC: where the next high is set is extremely key. If we hit some sort of lower high around $30,000 and die, we’re going to go to the low $20,000, in my opinion.
If we break past $32,000, this probably goes to like $40,000.
In other words, this is how I sort of envision it going down. Probably going to be a lot of crazy moves over the next four-ish months. Should be fun.”
At time of writing, Bitcoin is worth $27,980.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Crypto Analyst Predicts More Rallies for Ethereum-Based Altcoin, Says Crazy Moves Ahead for Bitcoin (BTC) appeared first on The Daily Hodl.
Go to Source
Author: Henry Kanapi
