Sherpa

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 A closely followed crypto strategist believes a red-hot altcoin project has more upside potential.
 Pseudonymous analyst Altcoin Sherpa tells his 206,900 followers on the social media platform X that the native token of modular blockchain Dymension (DYM) could soon revisit higher levels after a retracement.
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 “DYM: closed all of this yesterday, not going to round trip profit right now. 
 It’s still a bit choppy and not a huge fan of where BTC is. Still think this could go higher but going to be patient for now.”
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 Source: Altcoin Sherpa/X
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 Looking at his chart, the trader suggests that DYM is holding the $7.05 level as support and could rally to $7.39 based on Fibonacci retracement levels.
 Dymension is trading at $7.11 at time of writing, up from a low of $3.54 on February 6th, a gain of more than 100%.
 Next up, the trader predicts that the layer-1 blockchain Sui Network (SUI) will increase more than 10% from its current value.
 “SUI: this will hit $2 eventually, feel pretty strongly about it. Low time frames still look pretty strong and it’s important to remember there are all different types of consolidation patterns.”
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 Source: Altcoin Sherpa/X
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 Looking at his chart, the trader suggests that SUI remains in an uptrend as several exponential moving averages (EMAs) continue to rise.
 SUI is trading for $1.81 at time of writing, up nearly 7% in the last 24 hours.
 Lastly, the trader says Bitcoin (BTC) is facing a critical moment as it touches the $50,000 level on Monday.
 “BTC: moment of truth here. You want to see this clearly smash through AND HAVE FOLLOW UP. If this is a quick deviation, be extremely careful. Still bullish on high time frames but let’s see what happens.”
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 Source: Altcoin Sherpa/X
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 Looking at his chart, the trader suggests that if Bitcoin can convincingly break the $50,000 level it’ll remain in an uptrend, otherwise he suggests Bitcoin could correct down to around $46,000.
 Bitcoin is trading for $49,624 at time of writing, up more than 3% in the last 24 hours.
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/trader-says-altcoin-that-s-doubled-in-less-than-a-week-could-go-higher-outlines-path-forward-for-sui-tbt79641.html">https://thebittimes.com/trader-says-altcoin-that-s-doubled-in-less-than-a-week-could-go-higher-outlines-path-forward-for-sui-tbt79641.html</a>

Trader Says Altcoin That’s Doubled in Less Than a Week Could Go Higher, Outlines Path Forward for Sui

TheBitTimes

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