A widely followed crypto analyst and trader outlines the likely path forward for the memecoin, which has exploded more than ninefold in a matter of days.
An analyst known by the pseudonym Altcoin Sherpa told his 224,800 followers on social media platform After that, he said, there is a possibility that prices will fall for a while.
“I think the GOAT $0.20 to $0.40 range is very healthy. Personally, I'm holding on to this for a while yet.”
According to Altcoin Sherpa, GOAT's market cap could reach $500 million. GOAT's current market cap is just under $430 million.
At the time of writing, GOAT is trading at $0.429.
Next is Bitcoin (BTC). Altcoin Sherpa is bullish on Bitcoin and said the next area of resistance he expects Bitcoin to overcome is just above $70,000, a level last reached in July.
The anonymous analyst goes on to say:
“We don’t want to see too much of a break below the $66,500 level. However, we will continue to keep an eye on the lower time frames.”
At the time of writing, Bitcoin is trading at $68,440.
Turning to Ethereum (ETH), a widely followed analyst said the second-largest crypto asset by market capitalization could form a bottom on the daily time frame.
“…more than two months of consolidation, in my opinion, the end of the fourth quarter is going to be very fun. We expect this to be a range for a while and then a strong move, but… Notice that the exponential moving average of the day is tightening.
At the time of writing, Ethereum is trading at $2,629.
Never miss a beat – Subscribe to get email alerts delivered straight to your inbox
Check price action
follow me ×Facebook and Telegram
Surf the Daily Hoddle Mix
 
Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated image: Mid Journey
