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Despite the general price rise last week, anonymous cryptocurrency analyst Altcoin Sherpa remains bearish on the market.

trader Tell His 180,700 Twitter followers consider $22,000 a “must hold” level for Bitcoin (BTC).

“The last high, while technically higher, wasn’t convincing, and I think there’s a good chance this low will be broken above $22,000.”

Source: Altcoin Sherpa/Twitter

At the time of writing, BTC is trading at $23,429.

Altcoin Sherpa Similar bearish On Ethereum (ETH) competitor Solana (SOL).

“No clear higher highs were seen in the last move. The best we got was some kind of range consolidation pattern [in my opinion], seems unclear to me. “

Source: Altcoin Sherpa/Twitter

At the time of writing, Solana is trading at $40.23.

The analyst also believes that Optimism’s native token, OP, will fall below, saying it “has a lot of inefficiencies to fill”. Optimism is a layer 2 scaling solution for Ethereum.

Source: Altcoin Sherpa/Twitter

At the time of writing, OP is trading at $1.91. The 116th-ranked cryptoasset by market cap has gained more than 18% in the past 24 hours.

Also, Altcoin Sherpa predict A “more comprehensive cut” for LOOKS, the utility token of LooksRare, an ethereum-based non-fungible token (NFT) marketplace.

Source: Altcoin Sherpa/Twitter

At the time of writing, LOOKS is trading at $0.380175.

Instead, however, Altcoin Sherpa favors Synthetix’s native token, SNX, a protocol that allows the issuance of synthetic tradable assets such as commodities or indices on Ethereum.

“Be patient with this level, I think it will go up, which means it will always depend on BTC. Still think this looks good.”

Source: Altcoin Sherpa/Twitter

At the time of writing, SNX is trading at $3.84.

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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should conduct due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may suffer are your own responsibility. Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets, and Daily Hodl is not an investment advisor. Please note that The Daily Hodl engages in affiliate marketing.

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