Crypto Trader Says One Low-Cap Altcoin Has ‘Way More Upside,’ Updates Outlook on Bitcoin and dogwifhat
dailyhodl.com 28 September 2024 12:17, UTC A closely followed crypto strategist and trader says one enterprise solutions project may have more upside potential.
Pseudonymous analyst Altcoin Sherpa tells his 222,700 followers on the social media platform X that Zilliqa (ZIL) may continue its breakout on the weekly chart.
He suggests that the altcoin may be following the lead of dog-themed memecoin dogwifhat (WIF), which is up more than 28% in the last seven days.
“If WIF looks like this, wait till ZIL plays catch up! Way more upside with this type of chart!!”
ZIL is trading for $0.0167 at time of writing, up 15.1% in the last seven days.
Next up, the analyst says WIF may retest lower levels after breaking out.
“WIF: I’d never short this thing in these conditions but I wouldn’t be surprised to see some sort of short term pullback or consolidation at these levels.”
WIF is trading for $2.30 at time of writing, up over 3% in the last 24 hours.
Lastly, the analyst says Bitcoin (BTC) may confirm a bullish pattern on the daily timeframe for the first time in months if it can remain above $65,000.
“Would love to see BTC have a clear strong one day candle up here. That’d further convince me that the one day market structure has been broken and we just hit a higher low/higher high. This is significant and the first time we’ve had a bullish MS (market structure) since March.”
Bitcoin is trading for $66,147 at time of writing, up 1.3% in the last 24 hours.
Generated Image: Midjourney
