One crypto strategist believes challengers to Ethereum (ETH) may be following in the footsteps of the buzzy meme coin that just hit a new all-time high.
Anonymous analyst Credible told his 393,500 followers on social media platform He said that the market structure is similar to that of (PEPE).
“It looks similar to PEPE, but I think we should buy the dip and aim for higher prices as we are expecting some overall easing here.
It's been a long time since last night. ”
Looking at the trader's chart, it appears that he is targeting NEAR at $9 and is deactivated at $5.72. At the time of writing, NEAR is trading at $7.03, suggesting it could rise nearly 30% if the altcoin reaches Credible’s target.
However, Mr. Credible is bullish on NEAR. To tell His emotions don't come close to Pepe or the big altcoins. The analyst believes that market participants are rotating capital to ride Bitcoin (BTC)'s next rally, and said Pepe and major altcoins are headed for a major correction.
“Pepe and the major alternatives are in a range environment that I believe is the top of the distribution that will ultimately lead to failure.
Bitcoin = I believe we are in a range environment, a reaccumulation range that will eventually lead to the $100,000 breakout. ”
As of this writing, Bitcoin is worth $61,655.
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