As the markets aim to close the week in positive territory, a prominent analyst provides updated price targets for four crypto assets.
The anonymous trader known as Altcoin Sherpa informs his 180,800 Twitter followers that although he expects Bitcoin (BTC) to return $28,000 in the near future, the brief jump over $24,500 on July 30 did not satisfy him that BTC is experiencing a significant increase in the near term.
“I’m still of the belief that we’ll reach $28,000 in the intermediate term, but I’d like to see more volatility in the $23,000-$22,000 range in order to make a meaningful bottom. The recent high at $24,700 wasn’t very compelling, but the market structure remains positive in my perspective.”
The analyst thinks Bitcoin may rise if it finds a higher bottom in the region of $22,000 to $23,000, but he anticipates Ethereum (ETH) will break out prior to BTC.
Next to the expert’s attention is Solana(SOL). Altcoin Sherpa says he has remained on the sidelines and anticipates further volatility between $32 and $47.
Solana has likewise had a steady decline from the market’s top on Saturday, however, SOL has achieved a 2.08 percent increase over the previous 24 hours and is now trading at $40.39.
Moving on to the leading smart contract platform Ethereum, the analyst sees a glimmer of hope for investors who have lost money versus the U.S. dollar (USD), noting that ETH is doing well compared to BTC.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.