A widely followed crypto strategist believes a top 10 altcoin is poised to surge even further.
Pseudonymous analyst Altcoin Sherpa tells his 215,400 followers on social media platform X that he believes BNB, the native asset of DeFi protocol Binance Smart Chain, will see higher prices this year.
He also believes that the expected exit next month of Changpeng Zhao (CZ), the former CEO of Binance, could be a bullish catalyst for BNB.
“BNB is still one of the top majors right now; it’s also going to coincide with CZ’s release date in about a month. You can try to get a head start by buying BNB and also getting exposure to shitcoins (i.e. memes out there).”
Looking at his chart, the trader suggests that BNB could soon push $612 to a support level.
At the time of writing, BNB is trading at $584, up more than 2% in the last 24 hours.
Next, the analyst expresses bullish sentiment for Ethereum (ETH) rival Fantom (FTM).
“FTM: Extremely strong moves lately. This one got crushed recently but I still think it’s a solid project from a fundamental perspective with the S (Sonic Network) migration coming up. Next target area would be around $0.55, that’s the 200-day EMA (exponential moving average) and the S/R (support/resistance) level. Looks decent though.”
Fantom is trading at $0.46 at the time of writing, up slightly over the past 24 hours.
Finally, the analyst says that Solana (SOL) could remain in a trading range between $125 and $150 for some time.
“SOL is still decent, but it’s not a good active trade at all. Times like this are best spent accumulating said coin where it’s not doing anything. $125-150 is still a good opportunity in my opinion. Scalping something like this is probably not good for 99% of us.”
Solana is trading at $144 at the time of writing, up 1.4% in the past 24 hours.
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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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