đ„đ„đ„ Crypto Analyst Says #bitcoinâïž in a Potential Big Move Upwards, Updates Outlook on #SUIđ„ , #Aptos and #EigenLayer
A prominent cryptocurrency analyst and trader, known by the pseudonym Sherpa, is expressing a bullish outlook on Bitcoin (BTC) while sharing insights on three altcoins with his 224,200 followers on the social media platform X.
Sherpa notes that Bitcoin is currently experiencing "extremely tight" price compression, as indicated by the convergence of the 25-period, 55-period, 100-period, and 200-period exponential moving averages on the daily chart. At the time of writing, Bitcoin is trading at $62,150.
Sui (SUI)
- Next on Sherpa's radar is the layer-1 altcoin Sui (SUI), which he describes as having demonstrated "insane" price performance over the past few weeks. However, he cautions that the supply of Sui is expected to increase in the future. Currently, Sui is trading at $1.92, reflecting over a 100% increase in the past 30 days.
Aptos (APT)
- Sherpa also discusses the native token of the layer-1 blockchain Aptos (APT). He mentions that while he is uncertain about its long-term prospects, it appears strong in the short term. He suggests that it could be a good opportunity for a spot trade, anticipating a rise to $10 or more. Aptos is currently trading at $8.32, having risen nearly 50% over the past month.
Eigenlayer (EIGEN)
- Lastly, Sherpa analyzes Eigenlayer (EIGEN), the token associated with a relatively new Ethereum restaking protocol. He believes Eigenlayer is at a pivotal point, advising traders to wait for a clear breakout before entering. At the time of writing, Eigenlayer is trading at $3.73. Sherpa emphasizes that the potential for sustained momentum remains to be seen.
Source - dailyhodl.com
