Using the altcoin Sherpa alias, the analyst told his 180,600 Twitter followers that he believes Ethereum still has a long way to go, even though it has nearly doubled in value in less than two months.
“ETH: I expect Ethereum to eventually hit $2,200 in the medium term, but we will see if it can break this current support/resistance ($1720). I don't believe there is a 'bottom'."
Next up in the cryptocurrencies that the analyst examined is the popular blockchain-based game Axie Infinity (AXS). Altcoin Sherpa believes that Axie Infinity has the potential to start a relief rally, but is still cautious about whether AXS can actually hit its massive target.
"What do we think of such an idea? I don't know if it has the strength to go up to $40, but if BTC stays stable, it could potentially experience a bear market rally."
The last altcoin on the investor's radar is LOOKS, the native crypto asset of non-fungible token marketplace LookRare. Altcoin Sherpa predicts a 50 percent rally for LOOKS as long as Bitcoin (BTC) remains relatively stable.
“LOOKS: showing some interesting price action; the four-hour exponential moving averages all add up and go back and forth. But I still think it looks good. If BTC behaves well, I wouldn't be surprised to see LOOKS go to 50 percent or higher. "
At the time of writing, Ethereum (ETH)'s 24-hour trading volume was $11,646,878,469 while Ethereum price was $1.70, according to CoinGecko data. ETH price is down -1.0% in the last 24 hours.
Axie Infinity (AXS) price was recorded as $ 18.59. AXS has a trading volume of $203,445,695 in the last 24 hours. AXS price is down -4.6% in the last 24 hours. Finally, the LOOKS price was $0.394 at the time of writing, with a 24-hour trading volume of $18,098,415. LOOKS price is down -4.3% in the last 24 hours.