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A widely followed crypto analyst says one altcoin that has skyrocketed over 700% in the last four months still has momentum while updating his outlook on Bitcoin ($BTC) and Fartcoin ($FARTCOIN).
In a new thread, pseudonymous crypto analyst Altcoin Sherpa tells his 253,000 followers on X that Pudgy Penguins ($PENGU), the native asset of the Pudgy Penguins non-fungible token (NFT) collection, still has room to grow despite seeing massive gains earlier this year.
“I still like $PENGU a lot, but not currently in an active position on it. Would love to buy around $0.025 but this current region is also still support.
Swing trade strategy might be to buy 1/3rd position here and 2/3rds position lower if it comes. This one still has more upside later on [in my opinion], but it might take some patience.”
$PENGU is trading for $0.0305 at time of writing, a 2.2% decrease on the day.
Moving on to the crypto king, Sherpa says that if $BTC can reclaim the $115,000 level, it will likely climb to a price tag of $117,000 or more due to its momentum.
“$BTC – $112,000 reclaim in progress but we’re not really fully back until some higher levels are reclaimed first [in my opinion]. $115,000 is also a key level coming up…
If this closes like this today, I think we go to $117,000 for $BTC.”
However, he notes that if the flagship digital asset’s upward swing falters, it could head the other way to a price tag of $105,000 or $107,000.
“$BTC breaks $112,000 and you go to $117,000. Don’t break $112,000 and you see $107,000 or lower (maybe $105,000).”
$BTC is trading for $113,158 at time of writing.
Concluding his analysis with Fartcoin, the trader says that the memecoin will likely rise if the smart contract platform Solana ($SOL) does as well.
“Bought some more $FARTCOIN, if $SOL legs up we’ll see this go. Hot air rises.”
$FARTCOIN is valued at $0.845 at time of writing, while $SOL is trading for $214.
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