A popular crypto strategist predicts a bounce for memecoin Pepe (PEPE) and a new layer-1 project as he updates his view on Bitcoin (BTC).
Pseudonymous analyst Altcoin Sherpa tells his 195,100 Twitter followers he believes Pepe will eventually reach new all-time highs, but only after shaking weaker hands.
PEPE: Very good place to take profit here if you come from lower.
Can it go even higher? Of course, I actually think it will happen eventually.
But in the short term, things look a bit sketchy.
(I myself am still in this one from much lower).”
Altcoin Sherpa uses Fibonacci retracement levels, a technical analysis method for determining key levels for price targets, to predict a lower price level for Pepe. Looking at his chart, Sherpa indicates that Pepe could drop to $0.00000136 in the near term.
Pepe is trading at $0.00000175 at the time of writing, up 5.7% in the last 24 hours.
The trader say Aptos (APT) rival Sui (SUI), with its fairly illiquid tokenomics, is preparing for an upward move to $1.27 after days of hacking.
“SUI: I wouldn’t be surprised if this does well if and when BTC cools down and alts (altcoins) take a breather. MMs (market makers) control much of the floating supply I think, they will manipulate and pump this sh*t.
Sui is worth $1.17 at the time of writing, down 6.3% in the past 24 hours.
Looking at Bitcoin, the trader say that Bitcoin is currently in a range between $30,000 and about $26,600. He says a break above the upper end of the range would suggest a further rally to $33,000 and beyond. Rather, a collapse below $26,000 would suggest continuation, at least below the $25,000 level, according to Altcoin Sherpa.
“BTC: Looking good in the near term, expecting it to trade higher and alts to have a sort of bounce that lasts for a few days. Overall, however, still quite uncertain about the interim time frames.
At the time of writing, Bitcoin is trading at $27,060, down 1.5% in the past 24 hours.
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