Analyst Predicts Top 5 Altcoins Projected for Profitable Trades

• According to Altcoin Sherpa, LINK, ARB, APT, BNB, and INJ constitute the top altcoins to watch for profitable trades.
• Sherpa’s review builds upon the price behavior of the altcoins.
• The price behavior is supported by technical indicators based on the historical behavior of the altcoins.

Chainlink (LINK), Arbitrum (ARB), Aptos (APT), Binance Coin (BNB), and Injective Protocol (INJ) constitute the top altcoins to watch for profitable trades, according to crypto personality Altcoin Sherpa. Sherpa’s review builds upon the price behavior of the altcoins, supported by technical indicators based on the historical behavior of the altcoins.

Chainlink (LINK)

Using the weekly chart, Sherpa showed that LINK has been in a sideways range for almost a year. It has stayed in that range since May 2022, attracting a large transaction volume. LINK’s recent behavior is similar to when it traded around $2. Then, it stayed in a tight range for almost a year before embarking on a significant rally that pushed the price to an all-time high (ATH) of $52. Sherpa believes that LINK would experience a repeat of such a rally as soon as it breaks above the current range.

Read Also : Chainlink (LINK) Price Prediction 2022-2030

Arbitrum (ARB)

Arbitrum’s ARB coin has aligned for potential profit, according to Sherpa. Although the coin is already in an established uptrend, Sherpa thinks buying at a Fibonacci support around the $1.45 price region would be a good decision. That area would represent a considerable pullback and price consolidation coinciding with a volume profile that supports another leg in the price rally.

Read Also : Arbitrum (ARB) Price Prediction 2023-2030

Aptos (APT)

Sherpa’s opinion about APT is that buying around the $11.72 price region could be a good decision. He notes that consolidation is significant around that area, with the convergence of several EMAs on the daily chart. However, Sherpa thinks that activities around Bitcoin price could impact what happens with APT. He believes that a significant drop in the price of BTC could have APT falling toward the $9.62 price region. Otherwise, the $11.72 level remains valid for a bounce.

Read Also : Aptos (APT) Price Prediction 2023-2030

Binance Coin (BNB)

On the weekly chart, Sherpa identifies an area of interest that has become a significant resistance to BNB price. The $345 price level represents a historically strong area for BNB, and Sherpa believes a close above that level will indicate a significant breakout. He projects that a confirmed break above this region could see BNB climb to $450 on its first leg.

Read Also : Binance Coin (BNB) Price Prediction 2023-2030

Injective Protocol (INJ)

Sherpa’s choice of INJ is based on a confirmed uptrend that classifies it as one of the most bullish coins in the current Bitcoin market. He expects the coin’s price to stall around the $10.60 area and advised anyone in the trade to consider taking some profit there. However, he projects that INJ is in a good position for anyone who wants to partake in the bull run to look out for the dips and buy them. Sherpa believes there is still some significant momentum in INJ’s rally that could see it push toward higher price levels.

Read Also : Injective Protocol (INJ) Price Prediction 2023-2030