Warns Top 10 Blue-Chip Altcoins 'Not Looking Great', Updates View on Bitcoin and Blur

A widely followed analyst is urging caution on the billion-dollar crypto asset as it sits above a key support level.

Pseudonymous trader Altcoin Sherpa told his 196,700 Twitter followers that crypto exchange utility token Binance and native token Binance Smart Chain ( BNB ) “honestly don't look good.”

While I believe in Binance in the long term, there is so much fear, uncertainty, doubt (FUD) associated with the exchange that it is probably best to be cautious overall. Not currently trading this one.”

BNB, the fourth largest crypto asset by market capitalization, was trading at $208 at the time of writing.

Turning to Bitcoin ( BTC ), Altcoin Sherpa said that the flagship crypto asset could drop to “$27,000 or lower” amid bearish price action.

“This is the [$27,000] area that has a lot of support/confluence and, given the current conditions, I don't know if we'll see one of those big drops to the downside (in the short term).

I think we're probably going to have a hard time.”