Here’s What’s Next For Cardano (ADA), Ethereum (ETH), and Shiba Inu (SHIB)
A renowned crypto analyst and trader, Altcoin Sherpa, has revealed his bullish stance towards Cardano (ADA) and has also given out certain targets for the Ethereum (ETH) and Shiba Inu (SHIB) prices.
The analyst informs his 182,600 followers over Twitter that Cardano is currently in an accumulation phase and its bull run could reach the $0.60 area.
He pointed out that $0.55 would act as a resistance for Cardano and upon examination, an accumulation can be seen on the higher timeframe.
$ADA: I have some friends in this one, it looks decent relative to other alts rn. I dont think this is necessarily 'the bottom' and .55 should be resistance. That said, this almost looks like accumulation on higher time frame charts. #Cardano — Altcoin Sherpa (@AltcoinSherpa) September 4, 2022
At the time of publication, Cardano is trading at $0.501 with a surge of 3.01% in the last 24hrs.
The next altcoin the analyst focuses on is Ethereum.
The strategist believes that the key level he is looking for will reveal itself once ETH witnesses a breakout- which is highly likely in the coming days.
He also says that if there is a breakout, the currency might form a kind of cup and handle pattern. As per Sherpa, $1,730 is the level to watch out for.
$ETH: I still think this recent move was a bear market rally but I will keep watching it – if we see a strong break of the recent highs, maybe some sort of C&H pattern will play out? $1730 still a strong area to watch. #Ethereum $ETHUSD — Altcoin Sherpa (@AltcoinSherpa) September 2, 2022
Currently, Ethereum is selling at $1,662 with a push of 6.12% over the last 24hrs.
Shiba Inu (SHIB)
Shiba Inu is the last altcoin that caught the analyst’s attention.
He informs his followers that he has invested in SHIB as he hopes that the currency will rise soon.
However, at the moment Altcoin Sherpa feels that SHIB’s price movement is neutral but the liquidity is in a good position.
$SHIB: Weird price action, seeing these weird spikes. I still have a small position in it overall, simply because I think it can pump unlike any other coin. Liquidity is also good on it. That said, this area+ PA = very neutral IMO. #SHIBA — Altcoin Sherpa (@AltcoinSherpa) September 4, 2022