XRP breaks critical resistance levels, presenting a lucrative entry point for eager traders.
Before considering recovery, LEO holders should watch the 1.4 support level amid SEC regulatory issues.
Sheldon’s IMX strategy focuses on the “squeeze box” pattern, remaining optimistic about future gains despite current market trends.
In the latest video titled, Last Chance To Buy Altcoins (Or You’ll Get Left Behind!), Sheldon The Sniper discussed key entry points for various cryptocurrencies.
XRP stood out, breaking above critical resistance levels, making it an attractive entry point for traders. Meanwhile, LEO faces a selloff due to regulatory issues with the SEC. Consequently, those holding LEO should monitor the critical support level at 1.4 and wait for the market to stabilize before considering a recovery.
LAST CHANCE To Buy Altcoins (Or You’ll Get Left Behind!) https://t.co/0hTFE7mc6m
— Sheldon The Sniper (@Sheldon_Sniper) July 10, 2024
Moreover, Sheldon analyzed IMX, demonstrating his investment strategy using a “squeeze box” pattern on the 1-hour chart. This pattern signals a pop followed by a rejection, with traders advised to wait for bulls to enter. Despite losing market excitement, he remains optimistic about IMX’s potential, planning to add to his position when the trend reverses. He emphasized that 80% of trades result in losses, but the remaining 20% can yield significant profits.
Additionally, Sheldon examined resistance levels for Ethereum and NIA, stressing the importance of tight stops below these areas. After a retest, he predicted potential gains in older coins and advised caution due to resistance bands. Furthermore, he promoted Sniper Club, a premium platform offering live trading, a dedicated team, and comprehensive trading education.
Sheldon also provided insights into the broader cryptocurrency market. He predicted that the market might settle before trending upwards, with altcoins showing strength. He cautioned against the Consumer Price Index (CPI), which has previously caused market volatility. Hence, it is advisable to take profits during potential pumps and wait for major trends to shift before making significant investments.
Finally, Sheldon warned that Bitcoin might reject the 200-day moving average once it reaches that level. Furthermore, he expressed interest in Ethereum and suggested monitoring short-term plays. Sheldon concluded with a call to action, urging viewers to invest in altcoins before missing out on this opportunity.
The post Sheldon The Sniper’s Crypto Picks: XRP, IMX, and Ethereum Analysis appeared first on Coin Edition.