Analyst Says Blue-Chip Altcoin Could Hit New All-Time Highs Shortly, Updates Outlook on Three Additional Coins

A widely followed crypto analyst believes one top-10 altcoin by market capitalization could soon hit new all-time highs (ATHs).

Pseudonymous crypto trader Altcoin Sherpa tells his 216,700 followers on the social media platform X that BNB, the native token of the BNB Chain, continues to have a strong market structure.

“BNB: slow and steady wins the race. This thing goes to ATH shortly. Wish I still had a bag of it, sold it during the bear market. Hard times then.”

Looking at his daily chart, the trader suggests that BNB is about to flip the upper bound of a trading range at $621.50 into support and continue higher.

BNB is trading for $669 at time of writing, up more than 7% in the last 24 hours. BNB reached an ATH of $686 on May 10th, 2021.

Next up, the trader is long-term bullish on Bittensor (TAO), a decentralized blockchain platform that focuses on machine learning and artificial intelligence (AI).

However, he warns TAO needs to hold the key level of $350 as support or it could collapse in value.

“TAO: I would like to see this continue chopping around $350-$500 for a bit to form a solid bottom. This is likely to take weeks and this is the time period to scale in. Obviously if $350 gets lost, this thing is going to sub-$300 quickly.”

TAO is trading for $392 at time of writing, up nearly 4% in the last 24 hours.

Next up, the trader says My Neighbor Alice (ALICE), a non-fungible token (NFT) play-to-earn video game, could revisit lower Fibonacci levels before bouncing.

“ALICE: if scalping, I think taking a quick trade at .382 and .50 are decent setups. $2.13 and $2.03 are reasonable areas to bid in the short term and should provide a bounce.”

ALICE is trading for $2.15 at time of writing, down more than 10% in the last 24 hours.

Lastly, the trader says that NOT, a community token for the popular Telegram-based tap-to-earn mining game Notcoin, may have formed a market bottom after bouncing from $0.0199.

NOT is trading for $0.0240 at time of writing, up 8% in the last 24 hours.

 

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 losses 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 Analyst Says Blue-Chip Altcoin Could Hit New All-Time Highs Shortly, Updates Outlook on Three Additional Coins appeared first on The Daily Hodl.