Altcoin Sherpa, a popular crypto analyst, believes that BNB, the native token of the BNB Chain, is poised to hit new all-time highs soon. With a strong market structure, BNB is currently trading at $669, up over 7% in the last 24 hours, with an all-time high of $686 reached on May 10th, 2021. The analyst suggests that BNB is about to flip the upper bound of a trading range at $621.50 into support and continue to rise.
In addition to BNB, Altcoin Sherpa is also bullish on Bittensor (TAO), a decentralized blockchain platform focusing on machine learning and AI. However, he emphasizes the importance of TAO holding the key level of $350 as support to avoid a potential collapse in value. TAO is currently trading at $392, up nearly 4% in the last 24 hours. The analyst recommends scaling in during the consolidation period between $350-$500 to form a solid bottom.
Furthermore, the analyst mentions My Neighbor Alice (ALICE), a NFT play-to-earn video game, as a potential investment opportunity. He suggests that ALICE could revisit lower Fibonacci levels before bouncing back, with $2.13 and $2.03 identified as reasonable entry points for a bounce in the short term. ALICE is currently trading at $2.15, down more than 10% in the last 24 hours.
Lastly, Altcoin Sherpa highlights NOT, a community token for the Telegram-based tap-to-earn mining game Notcoin, as a potential market bottom. After bouncing from $0.0199, NOT is currently trading at $0.0240, up 8% in the last 24 hours. The analyst suggests keeping an eye on NOT as it may continue to show positive momentum in the near future.
In conclusion, Altcoin Sherpa’s analysis provides valuable insights into potential investment opportunities in the crypto market, including BNB, TAO, ALICE, and NOT. With a focus on technical analysis and market trends, his recommendations aim to help investors navigate the volatile world of cryptocurrency trading. As always, investors are advised to conduct their own research and consider their risk tolerance before making any investment decisions in the crypto space. Subscribe to his social media platform for more updates and alerts on the latest market trends.
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