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A widely followed crypto analyst and trader is warning that an altcoin market bounce may end up being short-lived. In a new post, pseudonymous crypto trader Altcoin Sherpa tells his 243,900 followers on the social media platform X that alts may give up gains after bouncing based on historical precedence. He also says Bitcoin (BTC) may soon flip $84,000 into support and that the flagship crypto asset could maintain bullish momentum by breaking through the $89,000 level. “BTC looks like $84,000 is the first test that is going to break (to the upside) and we’re ok in that department. $89,000 would be my next level of interest overall. Alts looking like they’ll give a temporary bounce but not sure how strong (yet). Be on guard.” Source: Altcoin Sherpa/X Looking at his chart, the analyst suggests that if Bitcoin can regain $98,703 as support, the flagship crypto asset may print new all-time highs. However, he warns if $78,167 breaks down as ...

Crypto trader and analyst Ali Martinez says Ethereum (ETH) is dangerously close to a major support level. Martinez tells his 123,000 followers on the social media platform X that Ethereum could plunge approximately 39% from the current level to a price of $1,700 if the support level at around $2,500 fails. ETH is worth $2,712 at time of publishing. Martinez’s chart suggests Ethereum is slightly above the lower trendline of an ascending channel pattern on the 12-hour time frame. While an ascending channel pattern is generally considered a bullish signal, a breakout below the lower trendline suggests a bearish reversal. The crypto trader, however, says that if the $2,500 support level holds, Ethereum could appreciate by up to 117% from the current level. “If Ethereum holds above $2,500, it could rebound toward $4,000 or even $6,000.” Source: Ali Martinez/X Next up is the native token of the layer-1 blockchain Avalanche (AVAX). Martinez says that AVAX...

A widely followed analyst and trader is leaning bullish on an altcoin in the Ethereum (ETH) ecosystem while updating his outlook on three crypto assets. The trader pseudonymously known as Sherpa tells his 223,200 followers on the social media platform X that Aave (AAVE) is “still undeniably very strong” as the Ethereum-based decentralized finance (DeFi) lending platform rests below a major resistance level on the weekly time frame after a consolidation phase that has lasted years. “This thing chopped for 2+ years, it looks ready.” Source: Sherpa/X AAVE is trading at $147 at time of writing, up by around 54% over the past 30 days. Next up is Solana (SOL). According to the widely followed trader, Solana is in the process of bottoming out on the daily time frame. “I think that this grinds up from here. Not a bad swing trade as long as Bitcoin stays friendly.” Source: Sherpa/X Solana is trading at $134 at time of writing. Turning to the n...

Su Zhu, the once-imprisoned co-founder of collapsed hedge fund Three Arrows Capital (3AC), took to X (formerly Twitter) to promote MAJIN, a supposedly expert trader with ‘surgical levels of analysis’ who, according to him, posted the world’s best commentary for traders during last weekend’s crypto market crash. Earning hundreds of thousands of impressions, MAJIN is a curious recommendation for several reasons. Commenters under Zhu’s endorsement immediately called MAJIN a Scam mer and rug-puller among various expletives. Elsewhere, critics claim that MAJIN has asked for money, reneged on promises, and failed to refund victims. In any case, Protos reached out to MAJIN for comment on his contentious background. MAJIN , whose username ‘MajinSayan’ is a Dragon Ball Z reference, has spent most of the year posting about DeFi trades and trader s. He claims to have been “kicking against nepotistic circles, insider schemes, actual fraud, and other anomalies.” ...

A cryptocurrency trader has turned an initial investment of $155,000 into a $1.16 million portfolio in two days. The trades occurred on Solana (SOL), speculating on the meme coins AMC and GME amid Roaring Kitty’s return. Lookonchain reported the anonymous trader’s nearly 650% gains in a post on X on May 15. The crypto trader allocated $61,000 to buy 27.58 million AMC and $94,000 for 30.78 million GME. Currently, their combined value is now $1.16 million. This guy turned his portfolio from $155K to $1.16M in just 2 days, a gain of 648%! He spent $61K to buy 27.58M $AMC and $94K to buy 30.78M $GME 2 days ago. And now these $AMC and $GME are worth $1.16M!https://t.co/ndC2UbgNp0 pic.twitter.com/joKwUx4DX1 — Lookonchain (@lookonchain) May 15, 2024 These meme coins play off the popularity of AMC Entertainment (NYSE: AMC) and GameStop (NYSE: GME) stocks, now back on speculators’ radar after their success during the 2021 GameStop short squeeze. Picks ...

Bitcoin shorts start to suffer thanks to a $1,000 BTC price relief rally, but key resistance remains in place. Bitcoin (BTC) rebounded off three-month lows on Sept. 12 as traders voiced suspicion over BTC price behavior. BTC/USD 1-hour chart. Source: TradingView Bitcoin shorts feel heat as BTC price adds $1,000 Data from Cointelegraph Markets Pro and TradingView followed a snap return to levels seen after the weekly close on BTC/USD. Bitcoin had seen immediate weakness on the previous day’s Wall Street open, briefly dipping below $25,000 to cap its worst performance since mid-June. The subsequent comeback took the largest cryptocurrency $1,000 higher, but at the time of writing, $26,000 still acted as resistance. Ahead of time, on-chain monitoring resource Material Indicators warned that BTC price would soon face a “support test” thanks to bid liquidity further down the order book being removed. #FireCharts shows 2 large #BTC Buy Walls have been rugged. Support test is inbound. pic....

Bitcoin market volatility dries up as sideways trading cools bullish BTC price predictions in the near term. Bitcoin (BTC) drifted lower on March 25 as eerily calm conditions saw liquidations evaporate. BTC/USD 1-hour candle chart (Binance). Source: TradingView Bitcoin in "slow chop" until Monday Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it focused on $27,500 at the time of writing. After losing $28,000 the day prior, weekend trading offered little by way of its usual volatility as traders hoped for a break before resumption of TradFi markets. “Looking like a slow chop around the CME close price so far,” Daan Crypto Trades wrote in part of Twitter commentary. “Not expecting too much to happen with BTC during the weekend after last week's volatility.” Daan Crypto Trades referred to the closing price of CME Group Bitcoin futures markets, a level which could become significant in the event that volatility up or down appears before the start of...

BTC price action is getting traders worried that $20,000 may not survive in the event that Bitcoin loses current support. Bitcoin (BTC) rested at multi-week support at the March 9 Wall Street open as concerns over a deeper BTC price drop increased. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView Trader: $19,700 "on the table" Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $21,800 on Bitstamp. With $22,000 in danger of flipping from support to resistance, popular trader Pentoshi was among those warning that further undoing of support may come next. “We made it. Best r/r currently however not a fan of the slow bleed. Would have liked a SFP (one may still come),” he wrote in an update on a prior BTC price forecast. “Below this can get ugly w 19.7-20.5k on the table.” BTC/USD annotated chart. Source: Pentoshi/ Twitter An accompanying chart showed the significance of the current spot price zone within Bitcoin’s broader range — and the pote...