A closely followed crypto strategist believes a red-hot altcoin project has more upside potential.<\/p>\n
Pseudonymous analyst Altcoin Sherpa tells<\/a> his 206,900 followers on the social media platform X that the native token of modular blockchain Dymension (DYM<\/a>) could soon revisit higher levels after a retracement.<\/p>\n \u201cDYM: closed all of this yesterday, not going to round trip profit right now. <\/em><\/p>\n It\u2019s still a bit choppy and not a huge fan of where BTC is. Still think this could go higher but going to be patient for now.\u201d<\/em><\/p>\n Looking at his chart, the trader suggests that DYM is holding the $7.05 level as support and could rally to $7.39 based on Fibonacci retracement levels.<\/p>\n Dymension is trading at $7.11 at time of writing, up from a low of $3.54 on February 6th, a gain of more than 100%.<\/p>\n Next up, the trader predicts<\/a> that the layer-1 blockchain Sui Network (SUI<\/a>) will increase more than 10% from its current value.<\/p>\n \u201cSUI: this will hit $2 eventually, feel pretty strongly about it. Low time frames still look pretty strong and it\u2019s important to remember there are all different types of consolidation patterns.\u201d<\/em><\/p>\n Looking at his chart, the trader suggests that SUI remains in an uptrend as several exponential moving averages (EMAs) continue to rise.<\/p>\n SUI is trading for $1.81 at time of writing, up nearly 7% in the last 24 hours.<\/p>\n Lastly, the trader says<\/a> Bitcoin (BTC<\/a>) is facing a critical moment as it touches the $50,000 level on Monday.<\/p>\n \u201cBTC: moment of truth here. You want to see this clearly smash through AND HAVE FOLLOW UP. If this is a quick deviation, be extremely careful. Still bullish on high time frames but let\u2019s see what happens.\u201d<\/em><\/p>\n Looking at his chart, the trader suggests that if Bitcoin can convincingly break the $50,000 level it\u2019ll remain in an uptrend, otherwise he suggests Bitcoin could correct down to around $46,000.<\/p>\n Bitcoin is trading for $49,624 at time of writing, up more than 3% 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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