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Prominent crypto analyst and strategist Altcoin Sherpa has claimed that the high-volume altcoin project BNB (BNB) is poised for significant gains this year. The analyst also expects the rise in Arbitrum (ARB) and Celestia (TIA) to continue.
Hopeful Outlook for Binance’s BNB
The anonymous crypto analyst Altcoin Sherpa informed his followers on social media platform X that while BNB may dip in the short term, he generally expects a major breakout this year. In his comments on BNB, the analyst noted:
I think BNB can be bought around $285. The current zone is dubious and the entire market is shaky right now. Still, I am on the side that expects a rise in BNB. I believe we will see strong gains in BNB mostly through Binance launchpad projects and more in 2024.
Looking at the BNB chart shared by Altcoin Sherpa to support his expectations, important support levels at the Fibonacci retracement are seen at $305.9 (Fib 0.236) and $286 (Fib 0.382). At the time this article was prepared, BNB was trading at $307.45, down 1.94% in the last 24 hours.
Expecting Continued Progress for Arbitrum (ARB) and Celestia (TIA)
Following BNB, Altcoin Sherpa, who drew attention to Ethereum (ETH) Layer 2 scaling solution Arbitrum (ARB), stated that the altcoin is on a long-term uptrend, but he expects it to pull back to lower trading ranges in the short term:
I think ARB is still strong and the price has some clear ranges. I might start buying at $1.80, which would be a good starting point. If things go south, it could pull back to $1.60. In that case, I would buy ABR from there. Nonetheless, it would not be wrong to say that the altcoin is clearly on an uptrend in higher time frames.
ARB was trading at $1.77, down 6.35% in the last 24 hours at the time this article was written, which is very close to the analyst’s indicated level of $1.80.
On the other hand, the analyst also expects Celestia (TIA), a Blockchain network designed to allow everyone to launch their own decentralized networks with minimal fees, to likely move towards higher levels, saying, “To be realistic, these things usually continue strong when they rise. TIA has been consolidating for a while and I think the next wave of rise is on its way, coming. Enter your bids above $14.30, maybe it comes and you find a buying opportunity.”
