The analyst, known by the nickname Sherpa and having a large following in the crypto market, maintained his bullish expectation for Bitcoin (BTC) and made important assessments about three altcoins.
Sherpa stated that there is “extremely tight” pressure on Bitcoin’s price, and this situation is manifested by the intersection of the 25, 55, 100 and 200-period exponential moving averages (EMA) on the daily chart. The analyst stated that he expects a big move to come after this squeeze, saying, “A big move is coming, probably upwards.”
Sui (SUI)
The first altcoin on Sherpa’s agenda is Sui (SUI), a layer-1 solution. While the analyst noted that Sui’s price has been “crazy” in recent weeks, he noted potential future supply increases. “This presents a great trading opportunity but may not be ideal for long-term holding due to future unlocks,” he said.
Aptos (APT)
Sharing his views on Aptos (APT), another layer-1 blockchain, Sherpa stated that it has a strong stance in the short term. “APT: I don’t know how it will be in the long term, but it looks pretty strong in the short term. It could be a good spot trading opportunity by waiting for it to rise above $10. It’s a reasonable coin,” he said.
Own Layer (OWN)
Finally, the analyst who evaluated the Ethereum retaking protocol Eigenlayer (EIGEN) said that this new protocol is at an important threshold. Sherpa warned investors to be careful by saying, “I think it would be better to wait for a real breakout and then jump on the train. Let's see if it will gain sustainable momentum.”
Sherpa’s analysis presents short-term opportunities for crypto investors, while also drawing attention to factors such as supply and momentum in altcoins.
Stay tuned for new information.
