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A widely followed analyst and trader is expressing bullish sentiment on one Ethereum (ETH) competitor while offering his forecast on gaming altcoin Beam (BEAM).
The analyst pseudonymously known as Altcoin Sherpa tells his 213,800 followers on the social media platform X that the price of the native token of the layer-1 blockchain Solana (SOL) could “go way higher”.
According to Altcoin Sherpa, Solana offers potential accumulation opportunities at the current price.
“SOL: It’s very simple- buy within this $168 – $208 range and don’t think too much about the price for the next few months.”
Solana is trading at $187 at time of writing.
Turning to BEAM, Altcoin Sherpa says that the gaming token could fall by around 17% from the current level if a major support level on the daily time frame crumbles.
“BEAM: This is still one of the few gaming coins I have for this cycle, it’s still one I’m holding for a really long time too. Still just chopping around and if it loses this level, $0.026 is next. I’m not going to be selling anytime soon.”
Beam is trading at $0.0316 at time of writing.
Altcoin Sherpa also offers his forecast on the synthetic dollar protocol Ethena (ENA), which is up by a little over 100% since its token generation event earlier this week.
“ENA: I think that this is going to eventually pull back significantly but I don’t know when. New launches can have all sorts of weird fuckery due to lower float and crazy market makers. Dips are for buying in the short term.”
Ethena is trading at $1.11 at time of writing.
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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.
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