Trader Says He’s Still ‘Hugely Bullish’ on This Gaming Altcoin, Updates Outlook on Arbitrum and Render

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A wide followed crypto strategist is remaining bullish connected 1 gaming altcoin this marketplace cycle.

Pseudonymous expert Altcoin Sherpa tells his 214,300 followers connected nan societal media level X that Beam (BEAM) seems to person a batch much upside potential.

“BEAM: 1 of my bags. It’s conscionable chilling nan past respective weeks. Still hugely bullish connected this coin and it’s still an indexed stake connected crypto gaming for this cycle. Going to conscionable support hodling, not a trade.”

ImageSource: Altcoin Sherpa/X

Looking astatine nan trader’s chart, he suggests Beam could rally to nan cardinal upside levels of $0.036 and $0.040.

Beam is trading for $0.031 astatine clip of writing, up somewhat successful nan past 24 hours.

Next up, nan expert says that Ethereum (ETH) layer-2 scaling solution Arbitrum (ARB) whitethorn diminution much than 15% from nan existent value.

“ARB: nasty value moves. I deliberation this 1 looks for illustration it’s going to caput to $1.20 aliases lower. I would for illustration to spot it consolidate and chill for a spot earlier forming a bottom. But nan 200-day exponential moving mean (EMA) getting mislaid is not awesome and this mightiness adjacent retrace nan full move.”

ImageSource: Altcoin Sherpa/X

Arbitrum is trading for $1.42 astatine clip of writing, down much than 2% successful nan past 24 hours.

Lastly, nan expert says Render (RNDR), a task related to Graphics Processing Units (GPUs), could diminution astir 17% from nan existent worth based connected Fibonacci retracement levels.

“RNDR: you tin now fib retired nan full scope and hold for nan .382 and .50 fibs. Strong coins for illustration RNDR astir apt bounce a spot lower, aiming for nan $7.50 level. Still bullish connected this 1 though for 2024.”

ImageSource: Altcoin Sherpa/X

Render is trading for $9.03 astatine clip of writing, down much than 1% successful nan past 24 hours.

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Disclaimer: Opinions expressed astatine The Daily Hodl are not finance advice. Investors should do their owed diligence earlier making immoderate high-risk investments successful Bitcoin, cryptocurrency aliases integer assets. Please beryllium advised that your transfers and trades are astatine your ain risk, and immoderate loses you whitethorn incur are your responsibility. The Daily Hodl does not urge nan buying aliases trading of immoderate cryptocurrencies aliases integer assets, nor is The Daily Hodl an finance advisor. Please statement that The Daily Hodl participates successful connection marketing.

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