A popular crypto analyst believes that an artificial intelligence (AI)-focused project could remain in an uptrend for months.
The pseudonymous trader known as Altcoin Sherpa tells His 207,300 followers on social media platform
“FET: Still looking good and entering resistance territory. I think it will go much higher in the coming months, but here $1 looks questionable in terms of entry.”
Looking at his chart, the trader suggests that FET’s next major resistance level is $0.76, following a rise from $0.55, the upper limit of a previous trading range.
FET is trading at $0.70 at the time of writing, up 6.5% in the last 24 hours.
Then the trader predicts Bitcoin (BTC) will soon reach the $58,000 level.
“BTC: The next area of interest is likely the $58,000 area; Price had a hard time staying up there for weeks in 2021 (my goodness, how time flies). I expect some kind of pullback there, but I fully believe that ATH (all-time high) will (eventually) be crushed.”
Bitcoin is trading at $51,885 at the time of writing, up slightly in the past 24 hours.
Finally, the trader believes the decentralized oracle network Chainlink (LINK) will eventually move up.
“LINK: It still looks good on HTF (high timeframe) for LINK. I think this will stay higher in the long term, but I don’t like this one as much for short-term trades. Volatility is a bit meh (but liquidity is good).”
LINK is trading at $19.51 at the time of writing, down almost 3% in the last 24 hours.
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Generated image: DALLE3