dailyhodl.com
A widely followed cryptocurrency analyst says he’s long-term bullish on one gaming altcoin that’s flying under the radar.
Pseudonymous trader Altcoin Sherpa tells his 207,100 followers on the social media platform X that he thinks open-source gaming blockchain Beam (BEAM) will likely outperform other altcoins in the crypto subsector.
According to Altcoin Sherpa, he sees BEAM going “way higher” during this bull market cycle.
“BEAM: one of my big bets for gaming this cycle, bullish on this one. Wouldn’t advise you to buy around this region, would probably wait a bit more. That said, high time frame, I think this is going much higher.”
At time of writing, BEAM is trading at all-time highs at $0.102, up over 14% in the last 24 hours.
According to the pseudonymous analyst, BEAM is one of the altcoins alongside the blockchain oracle Chainlink (LINK) and the cross-chain decentralized finance (DeFi) project SuperVerse (SUPER) that witnessed a long accumulation period before breaking out.
Altcoin Sherpa notes that these coins tend to follow a similar pattern: a big move up, followed by a period of consolidation before the next rally.
“These types of coins oftentimes make good/decent swing trades for those who are patient. This is because:
-These coins are all fundamentally decent/aren’t going to go to zero.
-Have decent liquidity and are higher market caps
-Have already shown good strong sustainable moves in the past.”
The analyst shares a chart that shows LINK breaking out of two accumulation periods.
Chainlink is trading at $20.24 at time of writing.
Meanwhile, SuperVerse also broke out of a multi-month consolidation period, based on the trader’s chart.
At time of writing, SUPER is worth $0.956, up over 11% in the last 24 hours.
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