Crypto Trader Names One Altcoin That Could Outperform the Market, Updates Outlook on Bitcoin and Sushi

A popular crypto analyst is mapping out his predictions for Bitcoin (BTC) and a handful of altcoins, including decentralized exchange token Sushiswap (SUSHI).

Pseudonymous trader Altcoin Sherpa tells his 184,300 Twitter followers that Bitcoin will probably need to drop a little further in price before it bounces.

“Looks like these range lows are coming with the green demand zone up first; would expect a bounce in the high $18,000s.”

Source: AltcoinSherpa/Twitter

BTC is trading at $19,088 at time of writing. The top-ranked crypto asset by market cap is up 0.22% in the past 24 hours.

Altcoin Sherpa also thinks SUSHI could also be due for a bounce soon according to its exponential moving average (EMA) and the support and resistance levels indicated by Fibonacci (fib) retracement.

“SUSHI: This area should provide a bounce w. 200 EMA 4h and .50 fib, would want to see some consolidation here though before entering. Careful of some weird… ‘news’ that might come out though…”

Source: AltcoinSherpa/Twitter

SUSHI is changing hands at $1.16 at time of writing and is down nearly 7.5% in the past 24 hours.

The crypto analyst is bullish on the decentralized oracle network Chainlink (LINK).

“LINK: Although I still see this as a stablecoin for now, I think it looks pretty reasonable on high time frame charts as an investment/longer-term trade. I think it’s in an accumulation range and we’ll eventually see this do really well.”

Source: AltcoinSherpa/Twitter

LINK is trading at $6.92 at time of writing. The 23rd-ranked crypto asset by market cap is down 1.44% in the past 24 hours.

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