Trader Outlines Path Forward for Altcoin That’s Up Over 800% in a Week, Sets Targets for Bitcoin and Ethereum

A widely followed cryptocurrency analyst and trader is outlining the potential path forward for a memecoin that’s exploded by over 9x in days.

The analyst pseudonymously known as Altcoin Sherpa tells his 224,800 followers on the social media platform X that the Goatseus Maximus ( GOAT ) memecoin may consolidate for a while after rising by nearly 860% from its price of $0.045 on October 13th.

“GOAT I think a range between $0.20 and $0.40 would be extremely healthy. Still holding this one for a while personally.”

Source: Altcoin Sherpa/X

According to Altcoin Sherpa, GOAT is likely to reach a market cap of $500 million. GOAT’s current market cap stands at just under $430 million.

GOAT is trading at $0.429 at time of writing.

Next up is Bitcoin ( BTC ). Altcoin Sherpa says he’s bullish on Bitcoin and the next resistance area he expects BTC to overcome is slightly above the $70,000 price, a level that was last reached in July.

The pseudonymous analyst further says,

“Don’t really want to see too much deviation below that $66,500 level. Keeping an eye on it on the low time frames though.”

Source: Altcoin Sherpa/X

Bitcoin is trading at $68,440 at time of writing.

Turning to Ethereum ( ETH ), the widely followed analyst says the second-largest crypto asset by market cap is potentially forming a bottom on the daily time frame.

“…consolidation for over two months will make for a very fun end of quarter four in my opinion. Expecting this to continue ranging for a bit and then have a strong move – watch for the one-day exponential moving averages to tighten up.”

Source: Altcoin Sherpa/X

Ethereum is trading at $2,629 at time of writing.

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