A popular crypto strategist says Litecoin (LTC), Apecoin (APE) and SushiSwap (SUSHI) appear ready to rally against the bear market.
Pseudonymous analyst Altcoin Sherpa tells his 184,700 Twitter followers that the three digital assets are the most likely to show upward price action.
“Best current coins to long in the short term IMO [in my opinion]: APE, SUSHI, LTC.”
Sherpa shifts to Binance Coin (BNB), saying the cryptocurrency issued by the giant global crypto exchange may also rally.
“Mega EMA [exponential moving average] support on the 4 hours around here. I think this is a decent area to long tbh [to be honest] but I don’t see a ton of s/r [support/resistance] support. Still a good one to consider for longer-term plays though.”
Altcoin Sherpa also gives a market update on Bitcoin (BTC) in a new strategy session video.
He says that Bitcoin’s price will likely regain ground early next month after its fast fall in early November from the $21,000 price level when the FTX crypto exchange imploded.
8:45: “I do believe that price should fill out some of this inefficient move here from $21,000 all the way down to $15,000… I am not saying it’s necessarily going to go to $20,000, but maybe it goes like $18,000 or something like that. And then potentially new lows. I don’t know where the new lows will go.”
At time of writing, Bitcoin is trading hands at $16,833.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Yueh Chiang/mbezvodinskikh
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