Analyst Predicts Bullish Surge for PYTH Network Against Chainlink
In the realm of cryptocurrency trading, Altcoin Sherpa, a respected figure, has expressed bullish sentiments towards Pyth Network (PYTH), positioning it as a formidable contender against Chainlink (LINK).
PYTH’s remarkable surge of nearly 85% since the start of 2024 has garnered widespread attention.
Utilizing Fibonacci extensions, Altcoin Sherpa forecasts potential price targets for PYTH, highlighting its growing prominence in the crypto space.
Entered this one yesterday and it's going well so far. Will use these fib extensions for targets. https://t.co/jQ0XeryuH4 pic.twitter.com/j2KShUS9lU
— Altcoin Sherpa (@AltcoinSherpa) February 14, 2024
With PYTH already surpassing the initial target of $0.65 and currently trading at approximately $0.658, Altcoin Sherpa sets ambitious goals at $0.6979 and $0.767, underlining confidence in its sustained growth.
Notably, PYTH’s entry into price discovery mode signals potential for further upward momentum.
READ MORE: Institutional Investors Inject $86.5M into Two Crypto Projects
Altcoin Sherpa also notes the resurgence of older altcoins like Chromia (CHR), hinting at profitable opportunities despite the challenges of prolonged accumulation periods.
Seeing some of these old coins like $CHR come back from the dead makes me think I should not be so dismissive of some of these older coins and instead think about trading them more. The problem I see is that they are usually in long accumulation patterns and can take a while to… pic.twitter.com/38JKqPlRVL
— Altcoin Sherpa (@AltcoinSherpa) February 13, 2024
Despite these hurdles, Altcoin Sherpa remains committed to exploring potential gains from these vintage assets, reflecting the dynamic nature of cryptocurrency trading.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
