A broadly adopted crypto strategist is remaining bullish on one gaming altcoin this market cycle.
Pseudonymous analyst Altcoin Sherpa tells his 214,300 followers on the social media platform X that Beam (BEAM) appears to have much more upside potential.
“BEAM: considered one of my baggage. It’s simply chilling the final a number of weeks. Nonetheless vastly bullish on this coin and it’s nonetheless an listed wager on crypto gaming for this cycle. Going to only hold hodling, not a commerce.”
Trying on the dealer’s chart, he suggests Beam may rally to the important thing upside ranges of $0.036 and $0.040.
Beam is buying and selling for $0.031 at time of writing, up barely within the final 24 hours.
Subsequent up, the analyst says that Ethereum (ETH) layer-2 scaling answer Arbitrum (ARB) could decline greater than 15% from the present worth.
“ARB: nasty value strikes. I feel this one seems prefer it’s going to move to $1.20 or decrease. I wish to see it consolidate and chill for a bit earlier than forming a backside. However the 200-day exponential shifting common (EMA) getting misplaced will not be nice and this may close to retrace all the transfer.”
Arbitrum is buying and selling for $1.42 at time of writing, down greater than 2% within the final 24 hours.
Lastly, the analyst says Render (RNDR), a undertaking associated to Graphics Processing Models (GPUs), may decline practically 17% from the present worth primarily based on Fibonacci retracement ranges.
“RNDR: now you can fib out all the vary and anticipate the .382 and .50 fibs. Robust cash like RNDR in all probability bounce a bit decrease, aiming for the $7.50 stage. Nonetheless bullish on this one although for 2024.”
Render is buying and selling for $9.03 at time of writing, down greater than 1% within the final 24 hours.
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