A widely known cryptocurrency analyst and trader is bullish on Bitcoin (BTC) while offering his take on three altcoins.
The analyst, who goes by Sherpa, tells his 224,200 followers on social media platform X that Bitcoin is experiencing an “extremely strong” price squeeze, as evidenced by the convergence of the 25-period, 55-period, 100-period and 200-period exponentials. moving averages on the daily chart.
Pseudonymous analyst says:
“There’s a big move coming, probably to the upside.”
At the time of writing, Bitcoin is trading at $62,150.
Next up is the tier 1 altcoin Sui (SUI). According to Sherpa, Sui has witnessed a “crazy” increase in prices over the past couple of weeks. However, a widely followed analyst says Sui’s supply will increase in the future.
“It’s a great deal, but maybe not the best deal given the unlock.”
At the time of writing, Sui is trading at $1.92, up more than 100% in the last 30 days.
Next up is the blockchain’s native layer-one token, Aptos (APT). Pseudonymous analyst says:
“APT: I don’t know how it’s doing in the long term, but it certainly looks very strong in the short term. This would probably be a good spot trade where you just sit and wait for the price to rise to $10+. Decent coin.
At the time of writing, Aptos is trading at $9.12, up nearly 50% in the last 30 days.
Next up is the Ethereum Eigenlayer (EIGEN) re-staking protocol. Sherpa says the relatively new retaking protocol is at a crossroads.
“In my opinion, it’s better to wait for a real break and then get on the train later. Let’s see if it actually has any lasting momentum.”
At the time of writing, Eigenlayer is trading at $4.
Generated image: DALLE-2
