Bullish on a blockchain gaming platform is a well-known cryptocurrency trader.
The analyst going by the alias Altcoin Sherpa informs his 213,600 followers on the social networking platform X that he believes the Fibonacci retracement levels of 0.5 and 0.618, or $0.053 and $0.046, would provide support for Gala (GALA).
After reaching the Fibonacci region, the analyst thinks GALA might rise.
"GALA: If money is your thing, purchase here in green boxes."
As of this writing, GALA is trading close to that range, at $0.0567. By market capitalization, the cryptocurrency asset ranked 58th down over 9% over the last day.
The decentralized blockchain platform Bittensor (TAO), which emphasizes artificial intelligence (AI) and machine learning, is another topic on which Altcoin Sherpa offers his insights.
"Hopefully, this one will settle down and establish a stable base. Though things seem bleak right now, I continue to believe that I will succeed in this cycle as an AI leader. Would [dollar-cost average] in this case range from $400 to $500?
As of this writing, TAO is trading at $522.02. The cryptocurrency asset with the 41st market capitalization is down almost 7% over the last day.
Additionally, according to Altcoin Sherpa, the Ethereum (ETH) layer-2 scaling solution Arbitrum (ARB) may be facing unfavorable charting.
A few of these charts appear unclean. I want to see more bounces here, or otherwise, ARB might drop to $1.20.
As of writing, ARB's price is $1.46. After a day of over 7% decline, the crypto asset ranked 33rd by market cap is now down.
April 2024, Cryptonitauae