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The well-known crypto strategist, frequently spoken about, has put forward the idea that an Ethereum (ETH) based altcoin is demonstrating signs of an uptrend while detailing his prediction for Binance Coin (BNB) and Chainlink (LINK).
Under the pseudonym Altcoin Sherpa, the senior analyst stated on Twitter that the recent uptrend of the Blockchain-based processing protocol, Render (RNDR), seems to have come to a temporary halt. According to the crypto strategist, the lackluster volume of RNDR in the past few weeks indicates a lost interest in the project conducted on the Ethereum network. The expert’s comments included the following:
“RNDR: It appears exhausted, as I expect much lower prices. Only a few trends can be sustained. Most will completely retract, and very few will outperform ETH in the long term. A last exhaustion battle might be seen, which may lead to a further drop. Levels of 1 dollar or lower could come over time.”
The analyst, Altcoin Sherpa, then addressed Binance Coin (BNB), the service token of the world’s largest crypto exchange. He highlighted that BNB still trades within its annual range and that investors should think twice before demonstrating excessive bearish tendencies towards the fourth largest altcoin by market value. He said:
“BNB: I don’t see a real trend change for BNB in general. It is still in the range it was last year, and I think a test around 220-250 dollars is coming. I believe Binance is in a good position and will be a leader in the near future… I do not think the current price is a good area to expect a downturn. It is still a good support area and the equilibrium (EQ) of the whole range.”
“Possible Rally for LINK!”
The crypto investor turned his attention to the decentralized network Chainlink (LINK), suggesting a short-term rally might be triggered if the altcoin hits a significant support level. He concluded with:
“LINK: I expect a bounce around 5.50 dollars. The range is low, and it should be good. This current area is also a support level. Therefore, any level down here seems suitable for support.”
