Sherpa

Chainlink

Pyth Network

<div class="dailyhodl">
 <p>A popular crypto analyst is laying out bullish price targets for a Chainlink (LINK) rival that’s already surged nearly 85% since the beginning of 2024.</p>
 <p>The pseudonymous trader known as Altcoin Sherpa tells his 207,200 followers on the social media platform X that he plans to use Fibonacci extensions for targets for the data aggregating service Pyth Network (PYTH).</p>
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 <p>Traders use&nbsp;Fibonacci extensions&nbsp;in technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> to estimate profit targets and price pullbacks. They are based on Fibonacci ratios.</p>
 <p>PYTH already surpassed the analyst’s first target, which was around $0.65. The 83rd-ranked crypto asset by market cap is trading around $0.658 at time of writing, up from $0.356 at the top of the year.</p>
 <p>Altcoin Sherpa’s next targets for the asset are $0.6979 and then $0.767.</p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GGQswTIWIAA4p6f?format=png&amp;name=4096x4096" alt="Image" width="2165" height="1179">
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   Source: Altcoin Sherpa/X
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 <p>Earlier this week, the analyst noted PYTH was in the midst of price discovery, a situation where a coin trades at levels never seen before in its history.</p>
 <p>Altcoin Sherpa says coins that trade in price discovery territory are “always magical” as they tend to go on a strong uptrend with no known resistance left.</p>
 <p>The trader also notes that it might be worth paying attention to some older altcoins, including the public blockchain platform Chromia (CHR).</p>
 <p><em>“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 actually start to move… and my impatient ass is not going to hold the position for weeks on end.</em></p>
 <p><em>That said, there are probably a lot of these that look pretty good. Going to start looking more at these over the next few days/weeks.”</em></p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GGOnVRdWsAAEF1v?format=jpg&amp;name=4096x4096" alt="Image" width="2165" height="1179">
  <figcaption class="wp-caption-text">
   Source: Altcoin Sherpa/X
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 </figure>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/here-are-potential-price-targets-for-chainlink-rival-that-s-up-85-this-year-according-to-crypto-trader-tbt79972.html">https://thebittimes.com/here-are-potential-price-targets-for-chainlink-rival-that-s-up-85-this-year-according-to-crypto-trader-tbt79972.html</a></p>

Here Are Potential Price Targets for Chainlink Rival That’s Up 85% This Year, According to Crypto Trader

TheBitTimes

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