Analyst Anticipates a Squeeze on Various Alts This Week

• Crypto expert Miles Deutscher shared insights on diverse cryptocurrencies via Twitter.
• Deutscher focused on Shibarium L2 rollout by Shiba Inu (SHIB).
• Deutscher highlighted Hedera’s (HBAR) uptick after Federal Reserve’s inclusion.

Renowned crypto market expert, Miles Deutscher, expressed his insights on diverse cryptocurrencies via a Twitter post yesterday. He illuminated the prevailing market trends, possible price squeezes, and potential investment opportunities to watch in the upcoming week.

Deutscher’s tweet primarily focuses on the forthcoming rollout of Shibarium L2 by Shiba Inu . He noted the market’s heightened anticipation for this event, which has triggered aggressive short selling. He also suggested the potential for a squeeze due to the market’s fervor. Nonetheless, he indicated a propensity for shorting if an opportune entry point presents itself.

The analyst subsequently turned his focus to Hedera , which saw a significant uptick after the Federal Reserve included an HBAR-integrated platform in its roster of service providers. Despite the positive market trend, Deutscher maintained a conservative stance, casting doubt on the longevity of the upswing.

As of the latest update, CoinMarketCap data shows that the altcoin currently trades at $0.07258, reflecting a 24-hour increase of 12.93%. In addition to the surge in HBAR’s price over the last trading day, the cryptocurrency experienced a significant 144% jump in its daily trading volume. As a result, the total daily volume now stands at $345,246,345.

Technically speaking, HBAR has successfully breached the 200-day EMA line in the last 24 hours. This positive trend persisted, driving the altcoin’s value beyond the resistance level of $0.06460.

HBAR’s price may experience a minor adjustment within the next 24-48 hours, as market participants could capitalize on their gains. This might lead to the digital currency’s price revisiting the $0.06460 level. If it breaches this threshold, the altcoin could be vulnerable to a drop towards the 200-day EMA line at $0.05820 and possibly even a further decline to $0.04460.

Conversely, if HBAR manages to sustain above $0.06460 for the forthcoming 72 hours, it would negate the bearish outlook. HBAR’s upward trajectory could potentially aim for the next significant resistance threshold at $0.09400.

Deutscher further elaborated on his examination, emphasizing the distinctive market stance of Dogecoin . He observed that DOGE’s trajectory has countered the general market trend, demonstrating its robust structural stability. The analyst proposed that should the wider market maintain a neutral to bullish stance, there could be a window for DOGE to bridge the gap and possibly surpass expectations.

He shifted his focus to The Sandbox , highlighting a substantial token unlock amounting to 16% of its total supply. Although he recognized that many such unlocks are already factored into the price, he deemed this abrupt increase in supply as significant. As a result, he warned of a potential gradual decline in the medium term due to this sudden influx. Moreover, Deutscher underscored the possibility of a short squeeze soon, given that larger investors might be positioned short.

Drawing a comparison to DOGE, the crypto expert explored the correlation between Pepe and the surge in SHIB’s popularity. He commended PEPE’s superior performance relative to DOGE during market shifts, implying that these trends could establish PEPE as a meme cryptocurrency with the potential for sustained value.

In the meantime, Deutscher underscored the possible undervaluation of Rollbit Coin (RLB) when evaluated against similar offerings using conventional cash flow/revenue models. He perceived market downturns as appealing investment opportunities and pointed out the rise of GambleFi as a captivating storyline in the crypto space.

In the concluding segment of his evaluation, Deutscher explored an assorted range of cryptocurrencies, highlighting their advantages and potential pitfalls. He identified 0xCoco (COCO) and WINR Protocol (WINR) as alternative digital assets showing promising trend formations.

While he maintains a preference for RLB, he recognizes the robustness of these cryptocurrencies, specifically emphasizing the revenue potential of COCO and the liquidity pool framework of WINR. Deutscher also underlines the intrinsic volatility associated with these crypto ventures.

The analyst concluded his evaluation by offering in-depth perspectives on other significant cryptocurrencies, such as THORChain , THORSwap (THOR), dYdX , UniBot (UNIBOT), ApeCoin , and Sei . These insights encompassed a variety of factors, from upcoming product rollouts and rising on-chain indicators to potential price adjustments and expected market occurrences.