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: one in every of my luggage. It’s simply chilling the final a number of weeks. Nonetheless massively bullish on this coin and it’s nonetheless an listed guess on crypto gaming for this cycle. Going to simply maintain hodling, not a commerce.”
Wanting 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 resolution Arbitrum (ARB) could decline greater than 15% from the present worth.
“ARB: nasty worth strikes. I believe this one seems prefer it’s going to move to $1.20 or decrease. I want to see it consolidate and chill for a bit earlier than forming a backside. However the 200-day exponential shifting common (EMA) getting misplaced just isn’t nice and this may close to retrace the complete 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 venture associated to Graphics Processing Items (GPUs), may decline almost 17% from the present worth based mostly on Fibonacci retracement ranges.
“RNDR: now you can fib out the complete vary and anticipate the .382 and .50 fibs. Sturdy cash like RNDR most likely bounce a bit decrease, aiming for the $7.50 degree. 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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