Altcoin Surge: Trader Forecasts Continued Growth for Sui, Details Future Trajectory
A prominent crypto strategist, known as Altcoin Sherpa, shares insights with his 206,900 followers on X social media platform, expressing bullish sentiments towards Dymension’s (DYM) native token amid a retracement.
Despite recent volatility and cautious market sentiment regarding Bitcoin’s trajectory, Altcoin Sherpa highlights DYM’s resilience, noting its support at $7.05 and potential rally to $7.39 based on Fibonacci retracement levels. With DYM trading at $7.11, up over 100% from its recent low, Altcoin Sherpa suggests further upside. Additionally, the strategist predicts a 10% increase in the value of the layer-1 blockchain Sui Network’s (SUI) token, foreseeing a rise to $2.
Observing SUI’s uptrend and positive momentum with exponential moving averages (EMAs), Altcoin Sherpa remains optimistic. However, amidst Bitcoin’s critical juncture at the $50,000 level, Altcoin Sherpa emphasizes caution, awaiting confirmation of a sustained break above this level for BTC to maintain its uptrend, while also considering a potential correction to around $46,000 if the breakout lacks follow-through.
Clever Robot News Desk 13th February 2024
