Be a smart investor. A popular crypto strategist believes that three altcoins, including Layer-1 project Sui ($SUI ), are currently in a significant downtrend.
Altcoin Sherpa has expressed concerns about SUI, smart contract platform Near ($NEAR ), and AI-focused project Artificial Superintelligence Alliance ($FET ), saying they are all experiencing price declines.
Sherpa pointed out that these coins face challenges due to the volatile Bitcoin environment and the constant release of supply, which could further impact their performance. He advised caution, noting that many of these assets are in a bear market.
Currently, SUI is priced at $0.575, down from its high of $2.17. FET is trading at $0.852 and is showing signs of a bearish pattern with lower highs and lower lows. NEAR, priced at $3.59, recently showed two consecutive lower highs on its weekly chart.
Despite his bearish outlook on these altcoins, Sherpa remains bullish on Bitcoin (BTC) and Ethereum (ETH) in the long term. He expects BTC to hit new record highs by the end of the year and predicts significant gains for other cryptocurrencies in Q4, citing historical trends and the potential impact of an ETF on Ethereum.
This is not investment advice, this is useful information
