A popular crypto analyst is remaining bullish on one red-hot altcoin that more than doubled in value within a few weeks.<\/p>\n
Pseudonymous trader Altcoin Sherpa tells<\/a> his 197,900 followers on the social media platform X that the gaming studio and NFT (non-fungible token) marketplace platform Vulcan Forged (PYR<\/a>) has more room to run.<\/p>\n The trader says that PYR will likely remain in an uptrend after suddenly jumping out of a long-term trading range, similar to what the decentralized oracle provider Chainlink (LINK<\/a>) has done.<\/p>\n \u201cPYR: this chart reminds me a lot of the LINK chart to be honest. Escaping the range that it\u2019s been in for over a year, looks pretty strong.\u201d<\/em><\/p>\n PYR was trading at $2.76 on October 19th and reached a Thursday high of $6.39 at time of writing, a more than 131% increase. PYR has retraced to $5.86 at time of writing.<\/p>\n Next, the trader says<\/a> he remains bullish on Chainlink, noting how the price remains above key exponential moving averages (EMAs) on the weekly chart.<\/p>\n He predicts LINK will eventually hit the $20 level, a nearly 36% increase from its current value.<\/p>\n \u201cLINK is going to $20 and there\u2019s nothing you can do about it. EMAs all bullish on the one-week [chart] and this one chopped for 500 days before exploding.\u201d<\/em><\/p>\n Looking at his chart, the trader suggests the next key resistance level to the upside is at $18.80.<\/p>\n LINK is trading for $14.73 at time of writing, up 5.6% in the last 24 hours.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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