Is Your Portfolio Ready for This Altcoin Set to Surge by 2300 Make Sure Youve Invested
In a recent analysis, analyst Sheldon delved into the significance of sideways market movement, explaining how it could signal either a continuation or a reversal. Focusing on various altcoins, he highlighted their performance against Bitcoin, identifying areas of strength and potential outperformance. In his latest video, the analyst expressed his belief that several altcoins are poised for a significant surge, ready to take the spotlight.
Theta, a token with a history of impressive rallies, was a key topic of discussion. Sheldon recalled its previous surge from 90 cents to $3.5, a remarkable 2300% increase. Drawing parallels to this past movement, he anticipated Theta making a strong upward push from $2 to $5, with even higher targets set at $7.
Another token that caught Sheldon’s attention was Injective, positioned in short-term and medium-term buy zones. While cautioning about potential pullbacks in case of a 2-3% dip in Bitcoin, he projected a surge for Injective similar to Kaspa, potentially hitting $40 in the short term and eyeing a move towards $70.
Cetus, known for its solid fundamentals, was also on Sheldon’s radar. He suggested considering adding more of this token if the trend was confirmed on the daily chart, foreseeing targets around 16 cents in the short term and 30 cents in higher time frames, indicating a potential 3x increase.
Sheldon pointed out the strength in the market, highlighting tokens like BNB breaking their all-time highs. By applying Fibonacci analysis, he noted that BNB had tested the 61% level and was now surpassing previous highs. He projected potential targets of $1,000 and $1,500 for BNB.
Moving on, Sheldon discussed Solana, suggesting a potential small retest but emphasizing the importance of catching breakouts. He set a target range between $240 to $280 for SOL and advised buying on pullbacks to around $170, with a suggested stop loss at $160.
Overall, Sheldon’s analysis showcased a bullish outlook for various altcoins, with promising potential for significant price movements in the near future.