A widely followed cryptocurrency analyst and trader outlines the potential path forward for a memecoin that has exploded more than 9 times in a matter of days.
The pseudonymous analyst known as Altcoin Sherpa told his 224,800 followers on social media platform compared to its price of $0.045 on October 13.
“GOAT, I think a range between $0.20 and $0.40 would be extremely healthy. I’ve still been holding onto this one for a while personally.
According to Altcoin Sherpa, GOAT will likely reach a market cap of $500 million. GOAT’s current market capitalization stands at just under $430 million.
GOAT is trading at $0.429 at the time of writing.
Next up is Bitcoin (BTC). Altcoin Sherpa says he is bullish on Bitcoin and the next resistance zone he expects BTC to overcome is slightly above the price of $70,000, a level that was last reached in July.
The pseudonymous analyst further says:
“I don’t really want to see too much gap below that $66,500 level. However, you have to keep an eye on short deadlines.
Bitcoin is trading at $68,440 at the time of writing.
As for Ethereum (ETH), the widely followed analyst claims that the second-largest crypto asset by market capitalization is potentially forming a low on the daily time frame.
“…consolidating for more than two months will make for a very fun end to the fourth quarter, in my opinion. Expecting this to continue for a while and then a strong move – watch for the one-day exponential moving averages to tighten.
Ethereum is trading at $2,629 at the time of writing.
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