Trader Highly Bullish on Altcoin That’s Up Over 1,100% in Under a Month, Updates Outlook on Bitcoin and Ethereum
A widely followed analyst and trader is leaning bullish on a memecoin built in the Solana (SOL) ecosystem while offering his insights on two other crypto assets.
The analyst pseudonymously known as Sherpa tells his 228,800 followers on the social media platform X that he is “still highly bullish” on Goatseus Maximus (GOAT).
Sherpa says he thinks GOAT could reach a market cap of $1 billion, a gain of over 85% from its current valuation of $539 million. But prior to any rallies, the trader sees the memecoin correcting to the $0.47 level.
“As I stated before, I believe on-chain takes a breather after the crazy run up and more attention will be to CEX (centralized exchange) coins.”
Source: Altcoin Sherpa/X
GOAT is trading at $0.552 at time of writing, up by 1,168% from the October 13th low of around $0.0435.
Next up is Bitcoin (BTC), which the analyst believes is headed to a new all-time high “within the next few months.”
The pseudonymous analyst adds that Bitcoin is likely gearing up for recovery after hitting a key support level.
“Next areas up got hit. I still think bounce soon for BTC.”
Source: Altcoin Sherpa/X
Bitcoin is trading at $69,817 at time of writing.
As for Ethereum, the widely followed analyst says that over the near term, ETH is likely to experience a false breakout and then fall to around the $2,400 level where it will undergo a consolidation phase.
“Should break out once Bitcoin does though (but ETH/BTC will still underperform until BTC is done with its run).”
Source: Altcoin Sherpa/X
Ethereum is trading at $2,512 at time of writing.
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The post Trader Highly Bullish on Altcoin That’s Up Over 1,100% in Under a Month, Updates Outlook on Bitcoin and Ethereum appeared first on The Daily Hodl.