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Sherpa

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 <p>A widely followed crypto analyst and trader is offering his forecast on a digital token that represents physical and traditional financial assets or Real World Assets (RWA).</p>
 <p>The trader pseudonymously known as Altcoin Sherpa tells his 213,700 followers on the social media platform X that crypto assets in the RWA category are still “strong”.</p>
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 <p>According to Altcoin Sherpa, the Ethereum (ETH)-based native token of a crypto project focused on real-world asset tokenization, Mantra (OM), is likely to fall further before resuming an uptrend based on Fibonacci retracement levels. In technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>, Fibonacci retracement levels are used to identify key support and resistance points, and by extension possible reversal points.</p>
 <p><i>“I think that OM will probably cool just a bit and find some bottom either at the $0.60 area or the $0.50 area. These Fibonacci levels have shown to be interesting levels but I’d like to see some consolidation for a longer-term bottom on this one.”</i></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/GKNFGmeWQAAuMOp?format=png&amp;name=small" alt="Image" width="680" height="378">
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   Source: Altcoin Sherpa/X
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 <p>OM is trading at $0.674 at time of writing, up by approximately 1,054% from the January 1st opening price of $0.0584.</p>
 <p>Turning to Bitcoin (BTC), Altcoin Sherpa says that the 200 exponential moving average (EMA) in the four-hour timeframe has twice proved to be a reliable support zone for the price of the flagship crypto asset.</p>
 <p><i>“BTC: you can keep things really simple and just bid the 200 EMA on the four-hour chart. the last time this thing was tagged (other than recently) was early February. This still remains a good bid for now in my opinion.”</i></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/GKM_ZQoX0AANKak?format=jpg&amp;name=small" alt="Image" width="680" height="378">
  <figcaption class="wp-caption-text">
   Source: Altcoin Sherpa/X
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 <p>Bitcoin is trading at $65,827 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-altcoin-that-s-exploded-over-1-000-year-to-date-maps-path-forward-for-bitcoin-tbt84400.html">https://thebittimes.com/trader-updates-outlook-on-altcoin-that-s-exploded-over-1-000-year-to-date-maps-path-forward-for-bitcoin-tbt84400.html</a></p>

Trader Updates Outlook on Altcoin That’s Exploded Over 1,000% Year-to-Date, Maps Path Forward for Bitcoin

TheBitTimes

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