A widely followed crypto strategist believes that top meme token Dogecoin (DOGE) remains bullish even after last week’s market-wide correction.
Anonymous analyst Altcoin Sherpa told his 214,100 followers on social media platform He said he is doing so.
Weekly support remains in place and traders can now I can see DOGE caused a nearly 60% rally from current levels.
“Doge: Held in the Sky” [the] At the current weekly level, we will resume pumping down to $0.32.
I think going long on DOGE is a perfectly reasonable idea and one of the safer trades you can make. Probably better than many others, to be honest. ”
As of this writing, DOGE is trading at $0.197.
Next, analysts are also bullish on the native asset of Ethereum (ETH)-based decentralized liquid staking protocol Ether.fi (ETHFI). Altcoin Sherpa says ETHFI stands to rebound as long as it trades above $4.75.
“ETHFI: Bought around here. I like the chart + it's a new coin and looks like it's forming a medium-term bottom. I'm going to sell this at around $6.70 with a stop below the low. (High price frame ends below $4.75 = out).
At the time of writing, ETHFI is worth $5.69.
The trader is also closely monitoring the cross-chain messaging protocol Wormhole (W). Analysts have shared a chart that suggests W is forming a round bottom reversal pattern on the hourly time frame.
“W: I would like to buy this on the way up. It might be good. I still believe that this number will increase several times in the coming weeks as long as BTC remains stable.”
As of this writing, W is trading at $0.995.
The final altcoin on the radar of analysts is Prom (PROM), a layer 2 protocol designed to enable interoperability between blockchains. According to Altcoin Sherpa, PROM seems to be trading in a wide range between $9.50 and $14.95.
“PROM: This is a coin I bought and traded a lot in 2021. It's currently stable in this range, with no real breakout *yet*.” Price lows at $9.50 We will either wait for it to close or break out above $16. ”
As of this writing, the PROM is worth $14.25.
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