A renowned cryptocurrency analyst and trader is discussing the possible future trajectory of a memecoin that has surged by over 9x within just a few days.
The analyst, known by the handle Altcoin Sherpa, informs his 224,800 followers on the platform X that the Goatseus Maximus (GOAT) memecoin might exhibit some consolidation after a significant rise of nearly 860% from its price of $0.045 on October 13th.
“I believe a price range between $0.20 and $0.40 would be greatly beneficial for GOAT. Personally, I’m holding onto this one for a bit longer.”
According to Altcoin Sherpa, GOAT is poised to approach a market cap of $500 million. Currently, GOAT’s market cap is just below $430 million.
At the time of writing, GOAT is priced at $0.429.
Next in line is Bitcoin (BTC). Altcoin Sherpa expresses his bullish outlook on Bitcoin, indicating that he anticipates BTC to break through the next resistance level slightly above $70,000, a price last seen in July.
The analyst further adds,
“I’d prefer not to see too much movement below the $66,500 mark. I’ll be monitoring the low time frames closely.”
Bitcoin is trading at $68,440 at the moment.
Shifting to Ethereum (ETH), the well-regarded analyst notes that the second-largest crypto asset by market cap may be forming a bottom on the daily chart.
“…a consolidation period of over two months could lead to a very exciting end to the fourth quarter. I expect this to continue ranging for a while before making a strong move – keep an eye out for the one-day exponential moving averages to tighten.”
Ethereum is currently priced at $2,629.
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Disclaimer: Views expressed at The Daily Hodl are not investment advice. Investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please be aware that your transactions and trades are at your own risk, and you are responsible for any losses incurred. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it serve as an investment advisor. Note that The Daily Hodl is involved in affiliate marketing.
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