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Crypto bull (ARB, SUI, BLUR)

Crypto Trader Predicts 50% Upside For BLUR, ARB, And SUI

Best Owie
by Best Owie
2 years ago
·
Posted in Altcoins
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The crypto market is still experiencing a drawn-out lull after an impressive rally but one trader has painted a bullish picture for a couple of altcoins in the market. The trader puts the likes of SUI, ARB, and BLUR in their analysis, giving them a high likelihood of a rally.

50% Upside Possible For ARB, SUI, And BLUR

Taking to Twitter, a pseudonymous crypto trader known as Altcoin Sherpa told his almost 196,000 followers that he is expecting significant upside for some coins including SUI, ARB, and BLUR. According to Sherpa, many altcoins including the ones mentioned are already marking a bottom, which could point to a short-term reversal for them.

Related Reading: Dogecoin Hashrate Drops 34% In One Day, What’s Going On?

The charts posted alongside the tweet showed similarities across the 25-day, 55-day, and 89-day EMAs of these altcoins, all pointing to a similar moving trend for all of them. If Altcoin Sherpa’s analysis is correct, the ARB, BLUR, and SUI could all move at least 50% higher than their current prices.

However, it is not all good news according to Sherpa’s analysis. While he does see bullish sentiment for these altcoins in the short term, he cautions that they could be followed by a dump right after. In the case of BLUR, it could be due to the coin unlocks that are set to take place next month.

Nevertheless, a 50% move from here for these three assets would not be localized to them alone. As such, it would be a welcome development for the rest of the crypto market given that all of the market is likely to move up in tandem with large assets like Bitcoin for this to happen.

What Does The Crypto Market Say?

Presently, the general crypto market sentiment is at a stalemate, leading to the muted movement that is being recorded across the space price-wise. With the Fear & Greed Index sitting at a neutral 50, there is mostly reluctance among investors to make a move.

Crypto total market cap chart from TradingView.com (SUI, ARB, BLUR)

Total market cap falls below $1.1 trillion | Source: Crypto Total Market Cap on TradingView.com

What this provides is either a bounce point for bulls for further upside, or it gives bears the time to mount adequate resistance. The former would see prices increase rapidly if that were the case. However, the latter could propel the crypto market into another crash, sending Bitcoin back to the $25,000 region.

Related Reading: Bitcoin Pizza Day: The World’s Most Expensive Pizza Is Now A Teenager

If a crash happens, then this forecast for SUI, ARB, and BLUR could be invalidated very quickly. Unless there is a switch in investor sentiment into greed, such a development could send assets in the space to new local highs.

Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from iStock, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Best Owie is a Managing Editor at Bitcoinist with extensive experience and a proficient expert known for crafting captivating and insightful content. Best boasts over six years in the crypto sector, and has supervised the conception and publication of thousands of articles. Best is also a content and marketing strategist with the ability to make sure your content reaches the right audience and beyond. In every aspect, Best stands out as a consummate professional, always striving for unparalleled excellence both within and outside the workplace.

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