A widely followed cryptocurrency analyst says he’s long-term bullish on one gaming altcoin that’s flying under the radar.
Pseudonymous trader Altcoin Sherpa tells his 207,100 followers on the social media platform X that he thinks open-source gaming blockchain Beam (BEAM) will likely outperform other altcoins in the crypto subsector.
According to Altcoin Sherpa, he sees BEAM going “way higher” during this bull market cycle.
“BEAM: one of my big bets for gaming this cycle, bullish on this one. Wouldn’t advise you to buy around this region, would probably wait a bit more. That said, high time frame, I think this is going much higher.”
At time of writing, BEAM is trading at all-time highs at $0.102, up over 14% in the last 24 hours.
According to the pseudonymous analyst, BEAM is one of the altcoins alongside the blockchain oracle Chainlink (LINK) and the cross-chain decentralized finance (DeFi) project SuperVerse (SUPER) that witnessed a long accumulation period before breaking out.
Altcoin Sherpa notes that these coins tend to follow a similar pattern: a big move up, followed by a period of consolidation before the next rally.
“These types of coins oftentimes make good/decent swing trades for those who are patient. This is because:
-These coins are all fundamentally decent/aren’t going to go to zero.
-Have decent liquidity and are higher market caps
-Have already shown good strong sustainable moves in the past.”
The analyst shares a chart that shows LINK breaking out of two accumulation periods.
Chainlink is trading at $20.24 at time of writing.
Meanwhile, SuperVerse also broke out of a multi-month consolidation period, based on the trader’s chart.
At time of writing, SUPER is worth $0.956, up over 11% in the last 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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