A widely followed cryptocurrency analyst says he sees upside potential for two crypto assets with a market cap below $1 billion.
Pseudonymous crypto strategist Altcoin Sherpa tells his 206,800 followers on social media platform X that he is looking at Solana (SOL)-based decentralized exchange aggregator Jupiter (JUP).
The trader shares a chart indicating that JUP is likely to reach a local bottom around $0.50 before rising to around $0.82.
“I still think in the short term it will eventually go up, but after that big jump (call it $1 or more) I think it will only go down for a while.”
At the time of writing, JUP is trading at $0.58, days after the token was launched in a highly anticipated airdrop.
As for Manta Network (MANTA), Altcoin Sherpa say the privacy-focused crypto project’s native token could bounce provided Bitcoin (BTC) doesn’t experience a major downward move.
“This one could take it all the way back to the $2.5 area or lower. New coins are still the ones to watch in my opinion. We’ll keep an eye on it, but it should bounce back quickly as long as Bitcoin (BTC) is stable.”
MANTA is trading at $3.05 at the time of writing.
As for the native assets of decentralized oracle network Chainlink (LINK), Altcoin Sherpa says the crypto asset looks bullish and is likely to see higher prices if it clears its immediate resistance.
“LINK: If the price breaks the $18 level, I think it will go to $24 (or higher) in the medium term. Smaller levels like $20 are there too, but overall they still look strong.”
LINK is trading at $17.81 at the time of writing.
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Featured image: Shutterstock/Giovanni Cancemi/Natalia Siiatovskaia