BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Analyst Predicts Brand New Altcoin Will ‘Do Pretty Well’, Updates Outlook on Bitcoin, Avalanche and Celestia

Analyst Predicts Brand New Altcoin Will ‘Do Pretty Well’, Updates Outlook on Bitcoin, Avalanche and Celestia
A popular crypto trader believes one recently launched gaming altcoin has a lot of upside potential.
The pseudonymous analyst known as Altcoin Sherpa tells his 207,800 followers on the social media platform X that the Web3 gaming altcoin Pixels ( PIXEL ) will likely bounce from its current value.

“PIXEL: I think this is a good trade but one you should take with spot. The reason is that I am fairly confident this will do pretty well; most new coins are doing so (low float/market-makers will pump/etc). It’s also a Binance launchpad project so I expect good things.
However, more downsides are certainly possible so you should be able to eat a drawdown, something that’s hard for most people to do while levered up. I think you just buy spot here, DCA (dollar cost average) down lower and then wait a week or two and sell it way higher. One where there are difficult entries/exits, maybe $0.49 again.”
Source: Altcoin Sherpa/X
Looking at the trader’s chart, he suggests that PIXEL would likely remain trading above the support level of $0.46.
PIXEL is trading for $0.49 at time of writing, down nearly 8% in the last 24 hours.
Next up, the trader warns that Ethereum ( ETH ) competitor Avalanche ( AVAX ) may be forming a bearish pattern.
“I’m not saying this is happening but it’s going to be important to see where the next overall low is printed for some of these altcoin charts. Peep coins like AVAX: If this was a recent lower high and we hit a lower low (see $26 get taken out), I think it could be scary overall.”
Source: Altcoin Sherpa/X
AVAX is trading for $35.64 at time of writing, down more than 4% in the last 24 hours.
The trader also says that Bitcoin ( BTC ) remains in an upward trend, but alts may start consolidating or dip.
“BTC/ everything is still HTF (high timeframe) bullish market structure. But seeing some sort of longer consolidation/bottom forming would be healthy and somewhat expected for the next few weeks/months for some of these alts. “
Lastly, the trader believes it may be a while before there is a break out for Celestia ( TIA ), a blockchain built to enable anyone to launch their own decentralized networks at minimal cost.
“TIA: 40-plus days of consolidation, just chilling. Not a great active trade; more just buy it and hold it for more upside. Going to probably pass on buying at this level personally.”
Source: Altcoin Sherpa/X
TIA is trading for $16.18 at time of writing, down more than 5% in the last 24 hours.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter , Facebook and Telegram

Surf The Daily Hodl Mix



Check Latest News Headlines

 


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 loses 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.

Featured Image: Shutterstock/tflow4e/StockStyle
The post Analyst Predicts Brand New Altcoin Will ‘Do Pretty Well’, Updates Outlook on Bitcoin, Avalanche and Celestia appeared first on The Daily Hodl .

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Cool to know huh? Read the full Article

Read the full Article:  ⭲ Analyst Predicts Brand New Altcoin Will ‘Do Pretty Well’, Updates Outlook on Bitcoin, Avalanche and Celestia


Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News



Dokky PRO - Bookcase Shop Script