Solana

Sherpa

ORDI

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 <p>A widely followed cryptocurrency analyst and trader is expressing bullish sentiment on the Bitcoin (BTC) ecosystem tokens over the medium term.</p>
 <p>The trader pseudonymously known as Altcoin Sherpa tells his 205,600 followers on the X social media platform that he expects Bitcoin Ordinals (ORDI), a protocol that allows text and images to be inscribed on Bitcoin, and other similar crypto assets in the ecosystem to “do well over the coming months”.</p>
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 <p>According to Altcoin Sherpa, ORDI would be attractive at the price of $65, about 10% below the current price.</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://pbs.twimg.com/media/GEFsNXsWcAAn2A9?format=jpg&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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 </figure>
 <p>ORDI is trading at $72.35 at time of writing, up by around 2,777% from the October 18th close of $3.48.</p>
 <p>Turning to Solana (SOL), the pseudonymous trader says that while he is bullish on the price of the fifth-largest crypto asset by market cap in 2024, he expects it to fall over the short term.</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://pbs.twimg.com/media/GEDfL6hWkAAAujA?format=jpg&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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 </figure>
 <p>SOL is trading at $98.01 at time of writing.</p>
 <p>Next up is the decentralized cross-chain liquidity protocol THORChain (RUNE). According to Altcoin Sherpa, the key Fibonacci retracement levels to watch on RUNE on the daily chart if its downtrend continues are the 0.50 (50%) and 0.618 (61.8%). Fibonacci retracement levels are used to identify possible support and resistance points for the price of an asset, with the most common ones being 38.2%, 50% and 61.8%.</p>
 <p>Based on Altcoin Sherpa’s chart, it appears that the 50% and 61.8% Fibonacci retracement levels would fall at just above a RUNE price of $4 and around $3.50, respectively.</p>
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GEDjP7aX0AIfB2a?format=png&amp;name=small" alt="" width="1063" height="499">
  <figcaption id="caption-attachment-190710" class="wp-caption-text">
   Source: Altcoin Sherpa/X
  </figcaption>
 </figure>
 <p>RUNE is trading at $4.10 at time of writing.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/trader-updates-outlook-on-ordinals-token-that-s-surged-over-2-700-in-three-months-warns-solana-could-go-lower-tbt77071.html">https://thebittimes.com/trader-updates-outlook-on-ordinals-token-that-s-surged-over-2-700-in-three-months-warns-solana-could-go-lower-tbt77071.html</a></p>

Trader Updates Outlook on Ordinals Token That’s Surged Over 2,700% in Three Months, Warns Solana Could Go Lower

TheBitTimes

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