As the crypto market continues to experience volatility, investors are always on the lookout for opportunities to make profitable trades.
Altcoin Sherpa, a well-known pseudonymous analyst in the crypto world, has been closely monitoring a group of altcoins and has recently shared his predictions on their potential for breakout targets. Join us as we will delve into the analyst’s insights on Binance Coin (BNB), Chainlink (LINK), Arbitrum (ARB), and Injective (INJ) and explore their potential for growth in the near future.
BinanceCoin (BNB)
According to Altcoin Sherpa, Binance Coin (BNB), the utility token of the world’s largest crypto exchange, has been trading in a wide range for a year. A strong move above the $350 level could propel the large-cap altcoin to a level last seen in March 2022. The analyst suggests that a breakout could lead BNB to a target of around $450, with intermediate levels in between. BNB is trading at $346 at press time.
Related: BNB Coin Price Prediction 2023, 2024, 2025, 2026 – 2030
Chainlink (LINK)
Chainlink (LINK), a decentralized oracle network, is another altcoin the analyst is watching. Altcoin Sherpa believes that a big breakout above $9.30 could push LINK to gain as much as 207%, considering its year-long consolidation in a wide range. The analyst expects LINK to reach at least $14 and possibly even $25 due to the extended accumulation period. At the time of writing, LINK is valued at $8.67.
Related: Chainlink Price Prediction: 2023, 2024, 2025, 2026 – 2030
Arbitrum (ARB)
The layer-2 scaling solution, Arbitrum (ARB), is also on the trader’s list. The analyst predicts that ARB could witness a corrective move to as low as the $1.45 level before the next leg up. Sherpa mentions that ARB’s high total value locked (TVL) and usage relative to other blockchains could potentially drive its value above $2. Currently, ARB is trading at $1.80.
Injective (INJ)
Finally, the decentralized exchange Injective (INJ) is on the trader’s radar. Altcoin Sherpa notes that INJ is in the midst of a “monster run,” which is likely to continue in the short term. The analyst forecasts that the next target area for INJ would be between $10 and $10.60, and he recommends taking heavy profits around that level. At the time of writing, INJ is valued at $9.27.
