Crypto strategists who are closely watched believe that a cryptocurrency focused on artificial intelligence will see a rally in the near future.
Altcoin Sherpa is a pseudonymous Altcoin analyst tells Artificial Superintelligence Alliance has 222.700 followers that he is accumulating on social media (X).FET).
A chart shared by the trader suggests that FET may reach a low of around $1.10, before exploding to $1.70.
“FET: underwater on these first entries; going to cut it if it loses the 200 exponential moving average on the four hour. Have more entries lower and will wait. Still think the chart looks decent on lower time frames but I also recognize we’re in a bullish trend on the one day. Lose $1.10 and I’m out.”
FET currently trades at $1.12 and is down more than 9% from the previous day.
Turning towards memecoin dogwifhatWIFAnalysts think that Solana’s (SOLFor now, )-based Altcoins will trade at a range of prices.
“WIF seems decent as a support region but I don’t think this one hits ATH (all-time high) anytime soon. Guessing we still see more chop and consolidation around this area. Best to be patient.”
On the basis of his chart, he appears to be predicting that WIF’s value will fluctuate between $1.40 and $2.20. The current value of WIF at the time of this writing is $1.48.
Trader keeps an eye out for the Injective Protocol (layer-1).INJ). INJ, according to an analyst, looks bearish as it has printed multiple Lower Highs (LHs).
“I think the chart overall is still bearish and I do not see an end yet. All the highs are lower. Should bounce *somewhere* but I don’t know where the real bottom is.
Personal, I do not think that it will surpass the previous ATH during this cycle. However, I might be mistaken.”
INJ’s value is $15.19 as of the writing. This represents a drop of over 12% in one day.
Altcoin Sherpa is also bearish on Ethereum.ETHNear () – Rival Near (NEAR).
“NEAR I still like this project overall but it’s still in a bearish market structure. It needs to break a high + print a higher low before we can consider any sort of reversal.”
NEAR was worth $3.67 at the time this article was written, down more than 11% from its previous value.
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