A Widely Followed Cryptocurrency Analyst and Trader is Bullish on Solana’s Ecosystem of Altcoins
A trader, known by the pseudonym Altcoin Sherpa, told his 243,700 followers on the social media platform X that the utility of decentralized bandwidth crypto project $GRAIL looks “very strong” after a 25% rally in just one day, effectively reversing the downturn seen in the cryptocurrency market.
According to the pseudonymous analyst, $GRAIL is likely to experience a pullback before resuming its rally. Based on a four-hour time frame chart, the trader suggests that $GRAIL could correct around 15% in the coming days before rallying more than 20% in the subsequent rise.
“Holy reversal. $GRAIL is at the top, it’s one of the best coins out there.”
As of this writing, $GRAIL is trading at $1.89.
The pseudonymous trader notes that altcoins have not yet peaked and are likely to enjoy a consolidation period of up to two months before any significant rally.
“I wouldn’t be surprised to see another month or two of consolidation. That doesn’t mean we won’t see large moves up or down; we already have seen that. But the real meat of this move is in early summer, I think, around May/June.”
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