A widely followed cryptocurrency analyst and trader is outlining the potential path forward for a memecoin that’s exploded by over 9x in days.
The analyst pseudonymously known as Altcoin Sherpa tells his 224,800 followers on the social media platform X that the Goatseus Maximus (GOAT) memecoin may consolidate for a while after rising by nearly 860% from its price of $0.045 on October 13th.
“GOAT I think a range between $0.20 and $0.40 would be extremely healthy. Still holding this one for a while personally.”
According to Altcoin Sherpa, GOAT is likely to reach a market cap of $500 million. GOAT’s current market cap stands at just under $430 million.
GOAT is trading at $0.429 at time of writing.
Next up is Bitcoin (BTC). Altcoin Sherpa says he’s bullish on Bitcoin and the next resistance area he expects BTC to overcome is slightly above the $70,000 price, a level that was last reached in July.
The pseudonymous analyst further says,
“Don’t really want to see too much deviation below that $66,500 level. Keeping an eye on it on the low time frames though.”
Bitcoin is trading at $68,440 at time of writing.
Turning to Ethereum (ETH), the widely followed analyst says the second-largest crypto asset by market cap is potentially forming a bottom on the daily time frame.
“…consolidation for over two months will make for a very fun end of quarter four in my opinion. Expecting this to continue ranging for a bit and then have a strong move – watch for the one-day exponential moving averages to tighten up.”
Ethereum is trading at $2,629 at time of writing.
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Generated Image: Midjourney