The crypto market is known for its volatility and since the start of May, the market’s volatility has been on the harsh side. Amidst such volatility, a popular crypto analyst and trader has come up with his analysis for three of the top crypto assets.
Altcoin Sherpa informs his 181,600 admirers on Twitter that Bitcoin (BTC) has now formed a short-term bottom below the $21,000 area.
As per the trader, Bitcoin will see a jump of 5% from its present trading levels. He is of the opinion that as this is just a short-term bottom, the currency might make a move towards $23,000.
Despite there could be some lows in the coming days, he doesn’t expect the price levels to drop below $20,000.
At the moment, Bitcoin is trading at $21,584 with a surge of 0.66% over the last 24hrs.
The next currency the strategist talks about is Dogecoin (DOGE). Analyst asserts that as the meme coin has been pulled down from its 3-month high of around $0.09 to the range of $0.058 and $0.077, right now there is no clear price action seen.
Hence, the analyst shows a negative approach towards Dogecoin.
Currently, Dogecoin is selling at $0.069
The strategist concludes his analysis on Chiliz (CHZ), a native currency of Socios.com, a sports fan platform.
Altcoin Sherpa predicts that Chiliz could rise by almost 40% from the price range it is trading at currently. Also in the last month, the currency has seen a surge of triple digits.
He then claims the current level is crucial and if CHZ Price surges from here, the traders will earn more profit. This is because as per Sherpa Chiliz could see an upward trade up to $0.33 but there are many levels to pass before achieving this range.
At the time of writing Chiliz is valued at $0.2416