Analyst Says Ethereum-Based Altcoin Set To Skyrocket by Over 100%, Updates Outlook on Chainlink and Fetch.ai

The pseudonymous analyst, Altcoin Sherpa, has shared insights with his 205,600 followers on the X social media platform, expressing strong confidence in the potential growth of Blur (BLUR), the native token of a non-fungible token (NFT) marketplace and aggregator platform. Altcoin Sherpa believes that BLUR will surpass its previous all-time high of $1.40, which is about 110% below the current price and was achieved in February 2023. He sees BLUR as a strategic bet on the overall NFT industry, emphasizing its bullish stance on various NFT infrastructure projects.

Regarding Chainlink (LINK), Altcoin Sherpa maintains a positive outlook, describing it as a solid long-term project. However, he suggests that the potential returns may not be as explosive due to its relatively high market capitalization. His chart analysis on the 12-hour time frame indicates a trading range for LINK between approximately $13.50 and $17 in January and February.

Fetch.ai (FET), a decentralized artificial intelligence platform for applications, is also discussed by Altcoin Sherpa. While he acknowledges that FET is currently undergoing consolidation, he sees it as a strong contender for the year. The analyst provides support and resistance levels for FET, with a weekly chart indicating a support level around $0.608 and the closest resistance at $0.779. Altcoin Sherpa suggests that FET is more suitable for medium-term trading rather than short-term gains.

Investors and followers on the X social media platform are likely to take note of Altcoin Sherpa's insights and analysis as they navigate the dynamic cryptocurrency market. As always, it's important for investors to conduct their research and consider various factors before making any financial decisions.

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