Is Your Portfolio Ready for a 2300 Surge in This Altcoin Make Sure You Have Invested in It
In a recent analysis, analyst Sheldon discussed the significance of sideways market movement and how it could signal either a continuation or a reversal in the market. He closely monitored the performance of various altcoins against Bitcoin, highlighting their strength and potential for outperformance. In his latest video, Sheldon mentioned that several altcoins are poised for a surge and could soon take the spotlight.
One of the tokens he focused on was Theta, reminiscing about its impressive rally in the past. Theta surged from 90 cents to $3.5, marking a remarkable 2300% increase. Sheldon predicted a similar pattern unfolding, with Theta expected to make a strong move from $2 to $5, aiming even higher at $7.
Sheldon also brought up Injective, noting its strategic positioning within short-term and medium-term buy zones. He cautioned about potential pullbacks if Bitcoin experiences a 2-3% dip, but once the trend is confirmed, he anticipated Injective to follow in the footsteps of Kaspa, potentially reaching $40 in the near future and eyeing a move towards $70.
Another token that caught Sheldon’s attention was Cetus, known for its solid fundamentals. He suggested considering adding more of this token if the trend is confirmed on the daily chart, with short-term targets set at around 16 cents and higher time frame targets at 30 cents, representing a potential 3x increase.
Sheldon highlighted the strength in the market, pointing out tokens like BNB breaking their all-time highs. By utilizing Fibonacci analysis, he noted that BNB tested the 61a level and is now surpassing previous highs. He projected potential targets of $1,000 and $1,500 for BNB.
Moving on to Solana, Sheldon anticipated a potential small retest but stressed the importance of catching breakouts, setting a target range between $240 to $280 for SOL. He recommended buying on pullbacks to around $170, with a suggested stop loss at $160.
In conclusion, Sheldon’s analysis provided valuable insights into the potential movements of various altcoins in the market, offering guidance on potential entry and exit points for investors.