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While Bitcoin (CRYPTO:BTC) and other major crypto assets rallied late Wednesday, a popular cryptocurrency analyst shared his opinion on several altcoins that he currently considers strong.
What has happened
The cryptocurrency analyst with the pseudonym Sherpa Altcoin has claimed on his YouTube channel that Bitcoin, which dictates the entire market, will experience some relief in the short term.
The analyst added that although the altcoins should trade well in the short term as well, it will start to collect profits as Bitcoin approaches the $47,000 range.
polygonal (CRYPTO:MATIC): Noting that MATIC is a very strong currency, the analyst has pointed out that the altcoins it should form a similar low to that seen in November for a more sustainable price move.
“In my opinion, the next area would be like the highs, around $3 or so, close to $3,” Altcoin Sherpa noted.
chain link (CRYPTO:LINK) – The analyst has noted a lot of buying for LINK in the current environment and believes it is not a bad idea to consider buying around the $25 level as that is also the 200 day exponential moving average.
Cosmos (CRYPTO:ATOM) – Altcoin Sherpa noted that ATOM was repeatedly touching the $38-$45 area, but it is only a matter of time before this level is broken.
harmony (CRYPTO:ONE) – Altcoin Sherpa noted that ONE is still “hovering” in the $0.32-$0.33 area despite being punctured multiple times. The coin would need to have a daily close above the $0.33 range to be called a bullish trend, he added.
phantom (CRYPTO:FTM) – The analyst believes that the coin could expect another rejection as it rises to the resistance area around $3.15.
NEAR Protocol (CRYPTO:NEAR) – Analyst described NEAR as his favorite coin right now and is personally seeing an entry in the token around the $16 level, while an aggressive entry would be around the $17 range low.
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