The post Analyst Maps Next Levels For Bitcoin (BTC), Solana (SOL) , Optimism(OP) & Synthetix (SNX) appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
The broader crypto market is performing much better than it was in the last few months. Yet, a closely followed crypto strategist and analyst have a bearish approach towards the whole crypto market.
The analyst who is anonymously known as Altcoin Sherpa informs his 180,700 Twitter fanbase that for Bitcoin $22,000 price range is a must and should hold level.
This is because he feels that although the flagship currency is technically higher, it’s not a convincing price level for him.
At the time of reporting, Bitcoin is trading at $22,871 after a fall of 2.27% over the last 24hrs.
Next, the strategist talks about Solana (SOL). Altcoin Sherpa also expresses his bearish stance towards the Ethereum competitor.
As Solana didn’t see any higher high, the analyst expects a consolidation pattern for SOL Price
Currently, Solana is valued at $38.92 with a pull of 1.09%
The next currency that has gained the analyst’s attention is a rare token OP. Altcoin Sherpa hopes that Optimism’s native currency, OP will form a lower base due to its inefficiencies. Optimism is yet again connected with Ethereum as it’s a layer-2 scaling solution.
Optimism has been on a bull run by 17.70% trading at $1.99 at the time of writing.
Following this, the expert makes an analysis of LOOKS and expects the currency to chop off. LOOKS is a utility token based on Ethereum non-fungible token (NFT) marketplace known as LooksRare.
Currently, LOOKS is trading at $0.3576
On the contrary, Altcoin Sherpa suggests a bullish prediction for SNX. Synthetix’s native currency, SNX is an agreement through which synthetic tradable assets are issued on Ethereum. Such an example includes commodities or indices.
The analyst also says that SNX price action will depend on that of Bitcoin.
At the time of publication, SNX is changing hands at $3.72