A noted cryptocurrency strategist remains bullish on top Ethereum (ETH) competitors despite the sudden correction.
Pseudonymous Analyst, Altcoin Sherpa To tell His 212,100 followers on social media platform X indicate that Solana (SOL) is showing strength after retesting the $165 Fibonacci retracement level.
“SOL: Initial reaction to the $165 level was good. We have to decide whether that is the bottom or not. However, we are still incredibly bullish on this in 2024.”
The trader had previously predicted that SOL would reach new highs this year.
Solana is trading at $184.95 at the time of writing, up more than 7% in the past 24 hours.
Next is the contractor To tell Bitcoin (BTC) may correct to the $63,000 level in the short term after recording a bearish pattern of falling highs. But he's bullish on the long term.
“BTC: It has made several new lows in the past few days. We will have to see if the price actually breaks any of them. Although it is still doubtful whether this is a “bottom” (it is (I hope so) and will raise the bar in the future. For now, I'm still at maximum length. ”
At the time of writing, Bitcoin was trading at $66,121, up 3.6% in the past 24 hours.
Next, the vendor To tell The native asset of Render (RNDR), a cryptocurrency project designed to provide a decentralized market for graphics processing units (GPUs), could fall more than 17% from its current value before breaking out again. there is.
“RNDR: In my opinion, it's a good time to accumulate RNDR for the next step up. Personally, I'm going to drop the price to $9 from here.”
Lender is trading at $10.96 at the time of writing, down nearly 3% in the past 24 hours.
Vendors too, Turning Bullish on Ethereum challenger Phantom (FTM) after rebounding at $0.91.
“FTM: Probably a good area to buy as a scalp here. Still looks like a pretty strong chart.”
Fantom is trading at $1.03 at the time of writing, up nearly 12% in the past 24 hours.
Finally, the merchant believe The native asset of blockchain-based gaming network Beam (BEAM) has a lot of upside potential.
“Beam: Still a buy-and-hold for me. I didn’t add anything in the last bit, but I’m still holding a bulk position. I’m bullish on this through 2024 and I think it will hold. Let’s go.”
Looking at his chart, the trader suggests that Beam could soon move above $0.036 and head towards $0.40.
At the time of writing, Beam is trading at $0.035, up more than 15% in the past 24 hours.
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