Crypto Analyst Identifies 5 Altcoins To Buy That Could Be A Good Bet
Crypto analyst Altcoin Sherpa recently outlined five altcoins that could provide crypto investors and traders with significant gains. He noted that these coins were looking pretty strong at the moment despite a lot of other tokens looking like crap.
Five Altcoins To Keep An Eye On
In an X (formerly Twitter) post, Altcoin Sherpa mentioned Injective, Wormhole, JasmyCoin, Stacks, and Toncoin as the altcoins that are looking strong at the moment. He revealed that he has eyes on these coins and is looking to actively trade them at some point. In a series of other X posts, he explained why he believed some of these coins were strong.
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In one X post, he talked about Wormhole and claimed that it was one of the strongest coins. He advised traders to keep an eye on it if they are actively trading. He further revealed that he would be looking to buy Wormhole if it breaks out. He added that if Wormhole pulls back strongly, it will likely continue to trade within its current range as it is not ready for that big move.
In another X post, Altcoin Sherpa touched on JasmyCoin and stated that the coin is extremely strong, seeing as it didnt budge despite the pullbacks in the crypto market. He claimed that JasmyCoin could rise to as high as $0.067 before it experiences any significant pullback. He added that he wasnt actively trading it, but it is one to watch.
Altcoin also provided insights into Toncoins price action, which he claimed was weird, with the top end being a supply zone and its price pulling back. However, he remarked that he is still bullish on the coin because it is enjoying a lot of attention, mainly thanks to Notcoin. The analyst views the $6 price range as a level to bid for anyone who believes that Toncoin will still break past its previous highs.
Altcoin Sherpa also seems bullish on Notcoin. He recently claimed that he has changed his mind about the token since its price action has calmed down and there is less volatility. He highlighted the consolidation pattern that has formed on Notcoins chart, which suggests that it is still primed for major moves to the upside.
A Meme Coin To Watch Out For
Altcoin Sherpa is also bullish on Dogecoin and suggests that it is a meme coin to watch out for. He noted that Dogecoin is still looking pretty good on the high-time frame charts despite many memes looking choppy in the short term. He added that he expects Dogecoin to still do big numbers later in the year.
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For now, he revealed that he is still expecting more chops for the next stretch and that he wont be rushing to buy any fresh positions for Dogecoin at its current price level. Altcoin Sherpa had previously predicted that Dogecoin would eventually rise to as high as $1 in this market cycle as it still has a lot of firepower.
Featured image created with Dall.E, chart from Tradingview.com
Source: NewsBTC.com
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