A popular crypto trader is bullish on a blockchain gaming platform.
The pseudonymous analyst known as Altcoin Sherpa tells his 213,600 followers on the social media platform X that he sees Gala (GALA) finding support at $0.053 and $0.046, which represent the 0.5 and 0.618 Fibonacci retracement levels.
The analyst believes that GALA may bounce after hitting the Fibonacci areas.
“GALA: buy here in green boxes if you like money.”
GALA is nearing that range and trading at $0.0567 at time of writing. The 58th-ranked crypto asset by market cap is down more than 9% in the past 24 hours.
Altcoin Sherpa also shares his analysis on Bittensor (TAO), a decentralized blockchain platform that focuses on machine learning and artificial intelligence (AI).
“I’d like to see this one chill and form a long-term bottom. I’m still of the opinion that this will do well this cycle as an AI leader, but things looking ugly in the short term. Would [dollar-cost average] from $400-$500 in this one.”
TAO is trading at $522.02 at time of writing. The 41st-ranked crypto asset by market cap is down more than 7% in the past 24 hours.
Altcoin Sherpa also says the charts could be looking bearish for the Ethereum (ETH) layer-2 scaling solution Arbitrum (ARB).
“Some of these charts look dirty. Want to see some bounces here or ARB is going to $1.20 potentially.”
ARB is trading at $1.46 at time of writing. The 33rd-ranked crypto asset by market cap is down nearly 7% in the past day.
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