Is this Altcoin ready to skyrocket by 2300 Make sure you have invested in it
In a recent analysis, Sheldon, a seasoned analyst, delved into the significance of sideways market movements, highlighting how they could signal either a continuation or reversal. He closely monitored the performance of various altcoins against Bitcoin, identifying their strength and potential for outperformance. In his latest video analysis, he expressed his belief that several altcoins are on the verge of a significant surge, poised to steal the spotlight.
One of the tokens that caught his attention was Theta, which he recalled for its remarkable rally in the past. Theta saw a jaw-dropping increase from about 90 cents to $3.5, marking a staggering 2300% gain. Sheldon predicted a similar trajectory for Theta, foreseeing a robust upward movement from $2 to $5, with even loftier targets set at $7.
Another token that Sheldon shed light on was Injective, which he identified as being in favorable short-term and medium-term buy zones. While he cautioned about potential pullbacks if Bitcoin experiences a slight dip of 2-3%, he remained optimistic about Injective’s potential for a surge akin to Kaspa, possibly reaching $40 in the near future and eyeing a move towards $70.
Cetus, recognized for its solid fundamentals, also captured Sheldon’s attention. He suggested considering adding more of this token once the trend is confirmed on the daily chart, envisioning targets around 16 cents in the short term and 30 cents in higher time frames, reflecting a potential 3x increase.
Sheldon highlighted the strength of tokens like BNB, citing their break of all-time highs as a positive indicator for the market. By utilizing Fibonacci analysis from the peak to the trough, he noted that BNB had tested the 61a level and was now surpassing previous highs. His projections for BNB included potential targets of $1,000 and $1,500.
Moving on, Sheldon turned his focus to Solana, suggesting a potential minor retest while emphasizing the importance of capturing breakouts. He set his sights on a range between $240 to $280 for SOL, recommending buying on pullbacks to around $170, with a suggested stop loss at $160.
In conclusion, Sheldon’s insightful analysis provides valuable insights into the potential movements of various altcoins, offering traders a roadmap for navigating the dynamic cryptocurrency market.