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.
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Generated Image: Midjourney
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