Crypto Analyst Predicts BNB to Hit New All-Time Highs as Market Structure Strengthens

  • The world of cryptocurrency is buzzing as a leading analyst predicts a significant rise for a top-10 altcoin by market capitalization.
  • This bullish outlook comes amidst a broader discussion about the potential of various digital assets.
  • Altcoin Sherpa, a well-known figure in the crypto community, shares his thoughts on multiple tokens including BNB, TAO, and ALICE.

Discover why experts believe BNB and other altcoins are on the verge of breaking their all-time highs, and what critical levels to watch in the coming weeks.

BNB Poised for New All-Time Highs

Altcoin Sherpa, a pseudonymous crypto trader followed by over 216,700 users on X (formerly Twitter), believes that BNB, the native token of the BNB Chain, is set to reach new all-time highs. Sherpa asserts that BNB has maintained a robust market structure and is on a steady path towards significant gains.

Sherpa recently stated, “BNB: slow and steady wins the race. This thing goes to ATH shortly. Wish I still had a bag of it, sold it during the bear market. Hard times then.” The token is expected to turn the $621.50 resistance level into new support, suggesting a strong upward momentum.

BNB’s Current Performance and Historical Context

As of the latest data, BNB is trading at $669, marking a 7% increase in the past 24 hours. This uptrend brings BNB close to its previous ATH of $686, achieved on May 10, 2021. Investors are closely watching to see if BNB can sustain this momentum and set a new record.

TAO’s Potential and Critical Support Levels

Moving to Bittensor (TAO), Altcoin Sherpa remains long-term bullish on this decentralized blockchain platform that focuses on machine learning and AI. However, he emphasizes the importance of TAO maintaining its support level at $350.

TAO’s Price Stability Concerns

Sherpa notes, “TAO: I would like to see this continue chopping around $350-$500 for a bit to form a solid bottom. This is likely to take weeks and this is the time period to scale in. Obviously if $350 gets lost, this thing is going to sub-$300 quickly.” Currently, TAO is trading at $392, reflecting a near 4% rise over the past day.

Analyzing My Neighbor Alice (ALICE)

Altcoin Sherpa also provides insights into My Neighbor Alice (ALICE), a play-to-earn video game centered on NFTs. He predicts that ALICE could revisit lower Fibonacci levels before making a recovery.

Short-Term Trading Opportunities for ALICE

Sherpa suggests that ALICE might provide good short-term bids at $2.13 and $2.03, emphasizing that these levels could offer a bouncing opportunity. Currently, ALICE stands at $2.15, though it has declined over 10% in the past 24 hours.

The Outlook for NOT Token

Lastly, Altcoin Sherpa highlights the market behavior of NOT, a community token for the Telegram-based tap-to-earn game Notcoin. Following a bounce from $0.0199, he suggests that NOT may have found its market bottom.

NOT’s Performance and Market Sentiment

As of the latest update, NOT is trading at $0.0240, reflecting an 8% increase over the past day. The market is monitoring whether this bottom can serve as a foundation for future gains.

Conclusion

In summary, key altcoins like BNB and TAO exhibit promising technical structures and bullish forecasts, while tokens such as ALICE and NOT show potential for short-term trading. Crypto investors should keep an eye on critical support and resistance levels to navigate the market effectively.

Disclaimer: Opinions expressed in this article are not investment advice. Conduct comprehensive research before engaging in high-risk investments in cryptocurrencies or digital assets. All investment decisions and associated risks remain the responsibility of the investor. This content does not endorse the buying or selling of any financial instruments.
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Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
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