A widely followed crypto strategist believes that a tier-1 altcoin running on a hybrid consensus mechanism will make big rallies this year.
Pseudonymous analyst Altcoin Sherpa tells his 215,600 followers on social media platform X that he is bullish on Core (CORE).
According to the analyst, CORE looks strong after erasing most of the losses from earlier this month.
“KERN: This one [Fibonacci levels] have held up very well. The chart also looks very solid. I have a bag of it and think it will reach big numbers in 2024.
I personally would not buy around this current level of $2.70-$2.90, but would rather wait for a dip around $2.20 to buy.”
At the time of writing, CORE is trading at $2.50, up over 355% from its 2024 opening price of $0.549.
The trader is also keeping an eye on Ethereum (ETH) challenger Near (NEAR). Altcoin Sherpa shares a chart that suggests NEAR will retreat below $6.50 before rallying towards its target at $8.50.
“NEAR: something like that would be good in my opinion.
At the time of writing, NEAR is worth $6.99.
As for artificial intelligence (AI)-focused altcoin Fetch.ai (FET), Altcoin Sherpa predicts that FET is likely to revise its local bottom at $1.80 before making a bullish reversal.
“FET: The first .50 Fibonacci test looks pretty good for now. We will see if there will be a follow-up or if we will have another test there. Honestly, I think we see at least one more test of that $1.80 level before it kicks off later. Be patient.”
At the time of writing, FET is worth $2.43.
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Generated image: DALLE3