Cryptocurrency analyst Alias Altcoin Sherpa remains largely bearish on the market despite a general uptick in prices over the past week.
The merchant says to his 180,700 Twitter followers that $22,000 is a “must” level for Bitcoin (BTC).
“The last high, although technically higher, is not convincing and I think there is a real chance that this low will be broken at $22,000.”
BTC is trading at $23,429 at the time of writing.
Altcoin Sherpa is similar declining to Ethereum (ETH) competitor Solana (SOL).
“I didn’t clearly see higher on that last move. The best we get is some sort of consolidation pattern [in my opinion]seems unclear to me.”
Solana is trading at $40.23 at the time of writing.
The analyst also believes that OP, the inherent characteristic of Optimism, will do so break lower, saying it has “a lot of inefficiencies to cover.” Optimism is a layer 2 scaling solution for Ethereum.
OP is trading at $1.91 at the time of writing. The 116th crypto asset by market capitalization is up more than 18% in the last 24 hours.
Additionally, Altcoin Sherpa predict “More generic piece” for LOOKS, the utility token of the Ethereum-based non-fungible token (NFT) market, LooksRare.
LOOKS is trading at $0.380175 at the time of writing.
In contrast, however, Altcoin Sherpa is more bullish on SNX, the native token of Synthetix, a protocol that allows synthetic tradable assets to be issued on Ethereum, such as commodities or tokens.
“I have been patiently waiting for this level and I think it will go up, that said it will always depend on BTC. I still think this looks pretty good.”
SNX is trading at $3.84 at the time of writing.
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