Analyst Says Layer-1 Altcoin Will Do Big Numbers This Year, Updates Forecast on Near and Fetch.ai

A widely followed crypto strategist believes that a layer-1 altcoin running on a hybrid consensus mechanism will do big rallies this year.

Pseudonymous analyst Altcoin Sherpa tells his 215,600 followers on the social media platform X that he’s bullish on Core (CORE).

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According to the analyst, CORE looks strong after erasing most of the losses witnessed earlier this month.

“CORE: These [Fibonacci levels] have held up extremely well. The chart also looks very solid. I have a bag of this one and think it’s going to do big numbers in 2024.

Wouldn’t personally buy around this current $2.70-$2.90 level but would rather wait for a dip around $2.20-ish to buy.” 

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Source: Altcoin Sherpa/X

At time of writing, CORE is trading for $2.50, up over 355% from its 2024 opening price of $0.549.

The trader is also keeping an eye on Ethereum (ETH) challenger Near (NEAR). Altcoin Sherpa shares a chart suggesting that NEAR will pull back below $6.50 before rallying toward his target at $8.50.

“NEAR: something like this would be good, in my opinion.” 

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Source: Altcoin Sherpa/X

At time of writing, NEAR is worth $6.99.

As for the artificial intelligence (AI)-focused altcoin Fetch.ai (FET), Altcoin Sherpa predicts that FET will likely revisit its local bottom at $1.80 before going through a bullish reversal.

“FET: first .50 Fibonacci test looking pretty good for now. We’ll see if there is a follow-up or if we get another test there. Truthfully, I think we see another test at that $1.80 level at least once more before this takes off later. Be patient.”

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Source: Altcoin Sherpa/X

At time of writing, FET is worth $2.43.

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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.

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