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The post BTC,APE,LOOK & NEAR Price To Hit This Level By May End appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

On Friday, bitcoin price movement reached its lowest daily closing since January 24, 2022.

Until bulls decide to support BTC further, continued selling pressure and weakness are the most likely outcomes for Bitcoin.

With caution, a well-known crypto trader and analyst is  expressing bullish optimism for Bitcoin (BTC).


Altcoin Sherpa, a pseudonymous crypto trader, says that he is “cautiously bullish” on Bitcoin, noting that corrections have historically accompanied BTC’s upward advances. If the critical support level between $36,000 and $37,000 is breached, Altcoin Sherpa’s bullish thesis will be invalidated.

The trader is “cautiously bullish” on Bitcoin till we lose $36,000 – $37,000 on high time frame charts, although it’s worth noting that each of these moves has been immediately retraced. Although he continues to expect that a rally to $50,000–$55,000 will occur before new lows.

APE Coin

The primary non-fungible token (NFT) in the Bored Ape Yacht Club collection is ApeCoin (APE). While laying out two possible scenarios for APE, Altcoin Sherpa claims that the primary token of the Bored Ape Yacht Club is more likely to break out of the current range than stay in it.

According to him, there are two possible outcomes: a V-shaped reversal to the $19–$20 range, followed by a price drop. The second is a longer-term high-time frame bottom, when the price fluctuates between $15 and $17 for a period of time.


Next up is LooksRare’s utility token, which is based on Ethereum (LOOKS). LOOKS is expected to appreciate by over 10% from present values, according to Altcoin Sherpa.

“LOOKS: I’m still in this trade, I bought at $1.75, $1.60, and $1.40. Should have bought a lot more at $1.40 but is what it is, a bit out of the loop in the market right now. I still think that this is going to the low $2s at a minimum. Will sell partial around there.”


The native token of the decentralized application platform Near Protocol completes Altcoin Sherpa’s list.

He believes traders should now reduce their positions in NEAR, citing a chart showing the token reaching a significant 0.5 Fibonacci barrier level while trading beneath the 200 moving average on the four-hour chart.

One thought on “BTC,APE,LOOK & NEAR Price To Hit This Level By May End

  1. There are several network parameters defining the decentralization/centralization of a public blockchain or distributed ledger.

    For Algorand network, it is a well documented fact that the decentralization of relay nodes is the main source of criticism for its centralization/decentralization nature.

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    So is it really the case?

    The answer is probably “yes you are right at present, but you will be wrong in the near future”.

    At present, running a relay node in Algorand network will require permission from Algorand. This is intentional and a natural way to build and grow a blockchain network in its early years.

    In the near future, participation in running relay nodes will be permissionless through a Permissionless Relay Node Mechanism. In fact, the Algorand Foundation has launched a community relay node program in December 2021. We should expect more of these pilot programs to be initiated until the Algorand get a clear idea what is the optimal Permissionless Relay Node Mechanism. This is systematic and scientific way to scale a technology at global level. It's a long-term process and they'll very likely get there.

    It is also worth mentioning that the financial barrier will get lower and lower over the years due to several factors, such as hardware equipment get cheapter, and new technological approaches/mechanisms to be gradually added to the Algorand Pure Proof of Stake protocol to improve it while maintaining the same hardware spec. The upcoming upgrade (State-Proof to significantly and securely improve cross-chain communication and transaction speed improved 5x to 6000 tps) is an excellent example of how the Algorand team can essentially improve the network performance and security without asking for more dollar cost in terms of hardware.

    The beauty and strength of Algorand blockchain network is its pure proof of stake protocol and its other core infrastructures. This is something that will help Algorand scale globally without compromising network security, decentralization, and speed/scalability. And this is something that can't be fixed easily (and in several cases, not really feasible from a technological standpoint) by other PoS networks.

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