Sherpa

<div class="dailyhodl">
 <p>A popular crypto analyst is remaining bullish on one red-hot altcoin that more than doubled in value within a few weeks.</p>
 <p>Pseudonymous trader Altcoin Sherpa tells his 197,900 followers on the social media platform X that the gaming studio and NFT (non-fungible token) marketplace platform Vulcan Forged (PYR) has more room to run.</p>
 <div class="code-block code-block-055f5289fd7e731bb72be7c5a19d18ed code-block-1">  
 </div>
 <p>The trader says that PYR will likely remain in an uptrend after suddenly jumping out of a long-term trading range, similar to what the decentralized oracle provider Chainlink (LINK) has done.</p>
 <p><em>“PYR: this chart reminds me a lot of the LINK chart to be honest. Escaping the range that it’s been in for over a year, looks pretty strong.”</em></p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F-a1DzbaEAAXnzt?format=jpg&amp;name=medium" alt="Image" width="1199" height="577">
  <figcaption class="wp-caption-text">
   Source: Altcoin Sherpa/X
  </figcaption>
 </figure>
 <p>PYR was trading at $2.76 on October 19th and reached a Thursday high of $6.39 at time of writing, a more than 131% increase. PYR has retraced to $5.86 at time of writing.</p>
 <p>Next, the trader says he remains bullish on Chainlink, noting how the price remains above key exponential moving averages (EMAs) on the weekly chart.</p>
 <p>He predicts LINK will eventually hit the $20 level, a nearly 36% increase from its current value.</p>
 <p><em>“LINK is going to $20 and there’s nothing you can do about it. EMAs all bullish on the one-week [chart] and this one chopped for 500 days before exploding.”</em></p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F-ayKDuacAAA_tW?format=jpg&amp;name=medium" alt="Image" width="1199" height="577">
  <figcaption class="wp-caption-text">
   Source: Altcoin Sherpa/X
  </figcaption>
 </figure>
 <p>Looking at his chart, the trader suggests the next key resistance level to the upside is at $18.80.</p>
 <p>LINK is trading for $14.73 at time of writing, up 5.6% in the last 24 hours.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/trader-says-ethereum-altcoin-that-s-up-130-in-three-weeks-looks-pretty-strong-names-targets-for-chainlink-tbt69736.html">https://thebittimes.com/trader-says-ethereum-altcoin-that-s-up-130-in-three-weeks-looks-pretty-strong-names-targets-for-chainlink-tbt69736.html</a></p>

Trader Says Ethereum Altcoin That’s Up 130% in Three Weeks ‘Looks Pretty Strong,’ Names Targets for Chainlink

TheBitTimes

Other articles published on Nov 9, 2023

ARM’s Shares Fall After Chipmaker Reports Soft Guidance, Slower Growth

Robinhood Announces European Crypto Expansion and UK Brokerage Launch

UAE Regulators Introduce Stricter Guidelines and Penalties for Unlicensed Virtual Asset Service P...

Grayscale GBTC Discount Lowest In 2 Years, Bitcoin ETF Approval Imminent?

Can Ripple (XRP) Reach $1 as Swell Conference Draws to a Close?

Coinbase Head of Legal Reiterates Importance of Crypto Regulatory Clarity

Join our free newsletter for daily crypto updates!