Ethereum

Sherpa

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 <p>Widely followed pseudonymous trader Altcoin Sherpa is issuing a warning on three of the top ten crypto assets by market cap.</p> 
 <p>Altcoin Sherpa tells his 196,400 followers on the X social media platform that Binance Coin (BNB), the native token of Binance Smart Chain and a utility token on the Binance crypto exchange, is “hanging on for dear life.”</p> 
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 <p><i>“I think it’s best to stay away from this one in the short term. I still think Binance is likely okay but it’s important to be cautious during these uncertain times.”</i></p> 
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  <img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F6fl6XtXEAAjwxN?format=png&amp;name=small" alt="" width="1063" height="499"> 
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    Source: Altcoin Sherpa/X 
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 <p>The analyst’s chart suggests that the fourth-largest crypto asset by market cap lacks upward momentum after failing to break through the resistance level at around the $330 price six times since May of 2022. Meanwhile, Altcoin Sherpa’s chart shows that BNB has broken below a two-month-long range, with the next support level over 10% below its current price.</p> 
 <p>BNB is trading for $210 at time of writing.</p> 
 <p>Turning to Bitcoin (BTC), Altcoin Sherpa says that he is bullish on the flagship in the near term.</p> 
 <p><i>“BTC: Still of the opinion this is going to go to $28,000 overall. Four-hour exponential moving averages all looking decent in the short term and not overextended; I think that we see another push-up.”</i></p> 
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"> 
  <img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F6fl6XtXEAAjwxN?format=png&amp;name=small" alt="" width="1063" height="499"> 
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    Source: Altcoin Sherpa/X 
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 <p>Bitcoin is trading at $26,717 at time of writing.</p> 
 <p>In the case of Ethereum (ETH), the trader says that the price performance of the second-largest crypto asset by market cap against Bitcoin is likely to determine what altcoins do next.</p> 
 <p><i>“ETH: The time is soon to buy altcoins for a run in my opinion… would like to see ETH/BTC come a bit lower and then look for a decent sized altcoin run by the end of this year.”</i></p> 
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  <img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F6fQxhfWYAAVqKs?format=png&amp;name=small" alt="" width="1063" height="499"> 
  <figcaption id="caption-attachment-190710" class="wp-caption-text">
    Source: Altcoin Sherpa/X 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/trader-warns-one-blue-chip-altcoin-is-hanging-on-for-dear-life-updates-outlook-on-bitcoin-and-ethereum-tbt63646.html">https://thebittimes.com/trader-warns-one-blue-chip-altcoin-is-hanging-on-for-dear-life-updates-outlook-on-bitcoin-and-ethereum-tbt63646.html</a></p>

Trader Warns One Blue-Chip Altcoin Is ‘Hanging On for Dear Life’, Updates Outlook on Bitcoin and Ethereum

TheBitTimes

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