A closely watched crypto strategist believes one major altcoin is poised to post strong gains this year.
Pseudonymous analyst Altcoin Sherpa tells According to its 204,600 followers on social media platform
“BNB: Offer around $285 in my opinion. The current area is questionable and the entire market is shaky (right now). Still optimistic about this. I think we will see strong gains for BNB in 2024; mainly through Binance launchpad projects and more.”
Looking at his chart, the trader suggests that the Fibonacci retracement levels 0.236 at $305.9 and 0.382 at $286 still act as support for BNB.
BNB is trading at $309.13 at the time of writing, down more than 4% in the last 24 hours.
Then the trader say that he is bullish on the Ethereum (ETH) layer-2 scaling solution Arbitrum (ARB) in the long term, but expects it to drop to lower trading ranges in the near term.
“ARB: I still think this is still strong and the price has some clear limits. Would offer about $1.80 and that should be a good first starting point; with some bidding as high as $1.60 if things get bad. But in terms of timeframe, we are still optimistic.”
Arbitrum is trading at $1.87 at the time of writing, down 3.42% in the last 24 hours.
Finally, the trader say that Celestia (TIA), a blockchain designed to allow anyone to launch their own decentralized networks at minimal cost, is likely to head higher.
“TIA: To be honest, if these things normally go well, they’re going to stay pretty strong. This has been chopped/consolidated for a while, I think the next stage is coming. Bid $14.30 or higher and you might get it.
Celestia is trading at $15.73 at the time of writing, up more than 1% in the last 24 hours.
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
follow us on Tweet, Facebook And Telegram
Surf to the Daily Hodl mix
Generated image: DALLE3