Bitcoin price breaks new yearly highs at $31,000 for the first time in the last nine months. The gigantic recovery that was unleashed at the beginning of 2023 is approaching crucial levels. Meanwhile, some of the altcoins such as ARB, SOL, and ATOM are showing strong bullish momentum.
One of the leading analysts, Altcoin Sherpa, frames the next move for popular altcoins and believes that these tokens are on the verge of a massive explosion. The analyst says that the ATOM price has already reached the higher time frames and may continue to decline. Therefore, he believes that the price may continue to consolidate as there is not much volatility in sight at the moment.
“Atomo – high time frames I think this is looking pretty good all EMAs reset to 1D and price continues to drop. That being said, I don’t see any reason to buy this one for active traders. There is not a lot of volatility or strength relative to the rest of the market rn”,
Talking more about Solana, the analyst believes that the price has reached crucial levels and therefore may face an intermediate pullback. However, the drop is expected to attract more liquidity which may lead to a nice rally thereafter.
SOL: Interesting level here; not a buyer. S/R horizontal resistance area +200d EMA, I expect a brief pullback to the cluster EMA around $22. This is a buy-the-drop situation, though in my opinion.”
Moving towards Arbiturm, Altcoin Sherpa sees huge chances to break above $2 in the coming days. The ARB price has shown enough strength despite taking a notable pullback recently. Therefore, in order to experience a meaningful breakout, the altcoin must overcome the upper barriers and establish a bullish path towards its target.
“ARB: Bought at $1.25, sold at $1.38 or something that should have held. I still think there is more juice left in the tank for this.
Using these fib extensions, send to $2+,”
This post Top Analyst maps next target for Arbitrum (ARB), Solana (SOL) and Cosmos (ATOM)
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