Leading crypto analyst Altcoin Sherpa has warned investors that there is a clear downtrend for three altcoins on his watchlist: Sui (SUI), Near (NEAR), and Artificial Superintelligence Alliance (FET). The analyst noted that these altcoins are in a bear market, but emphasized that they have a positive outlook in the long term.
Altcoin Sherpa told his followers on social media platform X that SUI, NEAR, and FET are trading in a bear market, and that these altcoins are in a bad situation due to difficult market conditions and Bitcoin’s volatile state. He also noted that developments such as the unlocking of SUI’s supply are also influential.
The analyst advised investors to be careful, stating that these altcoins have a clear bear market structure and that this situation has been going on for a long time. He shared that SUI has fallen sharply from its historical peak of $ 2.17 to $ 0.575, while FET has been constantly creating lower highs and lows. The current trading price of FET is at $ 0.921. For NEAR, he stated that two consecutive lower highs were seen on the weekly chart and the current price of the altcoin is $ 4.16. Despite this, Altcoin Sherpa continues to have an optimistic view for Bitcoin (BTC) and Ethereum (ETH) in the long term.
Fourth Quarter Emphasis
Altcoin Sherpa stated that the fourth quarter of each year has historically been positive for the cryptocurrency market. Stating that he expects BTC to break a record this year, the analyst predicts that many altcoins could rise significantly from their current values. He also emphasized that the fourth and first quarters are excellent times for the cryptocurrency market and stated that ETH is likely to break a record due to spot ETFs.
Key Takeaways
It is important for investors to be careful by considering this information:
The bear market continues for SUI, NEAR and FET.
It was observed that SUI fell from $2.17 to $0.575.
It is stated that FET is constantly making lower peaks and bottoms.
The current price of NEAR is recorded at $4.16.
Long-term optimism remains for Bitcoin and Ethereum.
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