The altcoin market is in danger, according to a widely-followed crypto analyst. Projects like Chainlink (LINK) correct.
Altcoin Sherpa, a pseudonymous analyst tells His 214.900 followers on social media platforms X, that many altcoins might enter a long consolidation phase.
“It’s quite possible that altcoins are done for the next one to four months. There are certainly going to be outliers, but I think that the majority need time to chill out and consolidate after such a big run.”
Analyst says Chainlink is an example of alternative alts. Chainlink provides decentralized oracles for smart contracts. The analyst says that LINK’s gains have been 4x after a prolonged accumulation phase.
“The scary thing is that many alts didn’t even run that hard over the last few months. Look at coins like LINK. 500-plus days in accumulation and only a 3x-4x gain (depending where you got in) and now price is strongly pulling back.”
LINK was trading at $13.21 as of the time this article is written, down by more than 1% over the past 24 hours.
According to the analyst, in the next few months only certain segments of the cryptocurrency market (including well-established crypto projects like Ethereum) will be successful.ETHSolana) (SOL).
Ethena, memecoins, and AI-related projects such as Ethena are also expected to be strong.ENAEthena Labs launched the governance token to be used for its decentralized financial protocol. Wormhole is a messaging cross-chain protocol.W).
“We now have very fragmented liquidity where only a few sectors are pumping…
The sectors that I will be focusing on include:
1. Memes: clear
2. It’s time to move on. Since there is so much junk on the markets, boring shit, like ETH or SOL for example, will probably be just good. It’s probably just going to be good.
3. Launches of big tokens ENA is a good example. These coins have lots of money, a lot of marketing and a real value. Obwohl coins like W performed badly, I believe that they’ll do extremely well after BTC stabilizes. The MMs will push this higher.
It is not only obvious but also 4-AI.
ENA and W are trading at $0.9311 at this time.
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