A widely followed cryptocurrency analyst says he sees upside potential for two crypto assets with market caps below $1 billion.
Pseudonymous crypto strategist Altcoin Sherpa tells his 206,800 followers on the social media platform X that he’s looking at the Solana (SOL)-based decentralized exchange aggregator Jupiter (JUP).
The trader shares a chart suggesting that JUP will likely carve a local bottom at around $0.50 before rallying to about $0.82.
“I still think it’ll eventually go up in the short term, but after that big move up (call it $1 or more), I think it’s down only for a bit.”
At time of writing, JUP is trading at $0.58, days after the token was launched amid a a highly anticipated airdrop.
Turning to Manta Network (MANTA), Altcoin Sherpa says the native token of the privacy-focused crypto project may bounce on the condition that Bitcoin (BTC) does not witness a big move to the downside.
“This one might make it all the way back down to the $2.5 or lower area. New coins are still the ones to look at in my opinion. Keeping an eye but it should bounce soon as long as Bitcoin (BTC) is stable.”
MANTA is trading at $3.05 at time of writing.
As for the native asset of the decentralized oracle network Chainlink (LINK), Altcoin Sherpa says the crypto asset looks bullish and will likely see higher prices if it takes out its immediate resistance.
“LINK: if price breaks the $18 level, I think it goes to $24 in the mid-term (or higher). Smaller levels like $20 are there too but overall, still looking strong.”
LINK is trading at $17.81 at time of writing.
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Featured Image: Shutterstock/Giovanni Cancemi/Natalia Siiatovskaia