A closely followed crypto analyst says that one metaverse token and two additional altcoins are setting themselves up to skyrocket.
The pseudonymous analyst known as Altcoin Sherpa tells his 158,000 followers that SAND, the native token of virtual world The Sandbox, has superb technicals that could trigger a second wave of metaverse rallies.
“SAND: This chart looks excellent IMO. Metaverse pump #2 coming soon? I think this is a good passive swing trade.”
At time of writing, SAND is trading at $5.14, down 38% from its all-time high of $8.40.
Next up on Altcoin Sherpa’s radar is the open-source smart contract platform Fantom (FTM). According to the analyst, FTM is presenting a prime setup for long entries.
“FTM: I need to just throw money in this trade, I’ve been eyeing it for a few days now. This area is very solid for an entry IMO.”
FTM is exchanging hands at $1.83 as of writing, a 42% decrease from its all-time high of $3.16 set in November.
Also on Sherpa’s watchlist is WOO, the native token of Woo Network (WOO). Woo Network is a “deep liquidity” platform that connects traders, exchanges, institutions, and decentralized finance (DeFi) platforms with democratized access to low-cost liquidity and trading execution.
With WOO hitting a higher high at around $1.70 and now a potential higher low at around $0.80, the altcoin is showing signs of a typical bullish market structure.
“WOO: I still think this is a bullish market structure, I think that the lows just got set. Higher lows, now let’s go up. I am still holding my bag.”
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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/KDdesignphoto/Natalia Siiatovskaia