Cryptocurrency markets are always buzzing with excitement and potential, and one crypto analyst is sharing his insights on some altcoins that could be gearing up for significant moves. Altcoin Sherpa, a well-known pseudonymous analyst with a large following on social media, recently highlighted a few coins that he believes have strong bullish potential.
One of the coins on Altcoin Sherpa’s radar is Sei (SEI), which he believes is showing signs of bullish momentum after breaking out of a rounding bottom pattern on the weekly chart. According to the analyst, the rounding bottom formation is a bullish reversal structure that indicates the asset is poised for a new uptrend. Altcoin Sherpa suggests that SEI looks promising for higher gains, with a decent entry point around $0.60. At the time of writing, SEI is trading at $0.66.
Another coin that Altcoin Sherpa is bullish on is Fantom (FTM), a smart contract platform. The analyst notes that FTM has strong fundamentals and recently broke out of a multi-month accumulation period, signaling potential for long-term investors. Altcoin Sherpa points out several positive factors for FTM, including recent developments in the project and a forthcoming rebranding. While Altcoin Sherpa doesn’t recommend buying at the current price level, he believes that buying on dips could be a profitable strategy. FTM is currently trading at $1.00, with a major resistance level at $1.10.
Altcoin Sherpa also mentions Near (NEAR), a layer-1 protocol, as another coin to watch. The analyst shares a chart indicating that NEAR could target its resistance at $8.29 after moving above $6.50. Altcoin Sherpa sees potential in NEAR due to its alignment with key narratives in the cryptocurrency space, such as artificial intelligence and layer-1 protocols. NEAR is currently trading at $6.97.
Overall, Altcoin Sherpa’s insights provide valuable information for crypto enthusiasts looking to capitalize on potential market movements. By staying informed and following expert analysis, investors can make more informed decisions in the dynamic world of cryptocurrencies.
Source: Altcoin Sherpa/X
Featured Image: Shutterstock/Alberto Andrei Rosu/Plasteed