A closely watched trader known for his timely altcoin calls believes that six crypto assets are the fastest horses in the digital asset race.
Pseudonymous analyst The Flow Horse tells According to its Telegram subscribers, six altcoins are leading the crypto pack, including projects in the artificial intelligence (AI), memecoin and layer-1 sectors.
“Memes are more diverse, AI is led by TAO. Wif, Bonk, Pepe. Sei and Sui are still strong. I wouldn’t really diversify beyond this leading pack until the market makes it very clear. Be late to make that change if you have to.”
With the latest crypto correction, The Flow Horse thinks the dip is not a signal that strong altcoins are ready to give up most of the gains of the past few weeks.
“Anything that is mega-strong will probably only see a cooling and not a reversal. I’m not sure of the depth or the extent, but I’m pretty sure of the direction. As long as previous daily pivots hold (the idea of previous major resistance becoming support), I see no reason to be overly concerned.”
The trader zooms in on the memecoin Pepe (PEPE) to show how strong coins turned a former resistance into support after the pullback.
“Keep an eye on what shows strength, and anything that is at a previous inflection point:
e.g. Pepe…
When markets strengthen and uncertainty manifests, this is the level.”
At the time of writing, PEPE is trading at $0.00000983, up from a 24-hour low of $0.0000929.
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Featured image: Shutterstock/Pattern Trends/AtlasbyAtlas Studio
