A widely watched cryptocurrency analyst looks at the popular meme token Dogecoin (DOGE) and five other major altcoins.
Pseudonymous Crypto Trader Altcoin Sherpa To tell Their 187,800 Twitter followers say DOGE’s current pump is likely unsustainable.
“Some Elon news has moved the issue. Given the market conditions, don’t really think this will be a sustainable pump. You could probably short around $0.09.”
At the time of writing, Dogecoin is up 8% in the last 24 hours.
Then trader stock Thoughts on Litecoin (LTC) and Polygon (MATIC).
“Some trading ideas are mostly pending right now.
LTC: Scalp, I’ll be patient if the $70 comes.
Also pay attention to MATIC’s swing position.
LTC is currently down 5% in a day and MATIC is down 2% over the same period.
next sherpa appear Avalanche (AVAX), a layer 1 platform, calls AVAX ugly.
“I haven’t checked this 1 in a while, but it still looks pretty ugly. So far I don’t see any signs of a reversal. That said, this is an area with a long support timeframe. So, in my opinion, it’s not an area to shorten right now, rather just wait and see.”
At the time of writing, AVAX is down 1% for the day.
Sherpa spends a little time withdraw Theoretical support for Cosmos (ATOM) falling 1.5% today.
“This is a theoretical support. Do not short this area.”
Finally, analyst outline Top 10 altcoins looking to rise.
“At $330 pulling back? Be careful as the current area is also the 200d EMA. Still, this is probably one of the strongest coins you can buy and hold for a little while (this is really watchable for 2023 I have a long term bag of this.
Binance Coin (BNB) has been trading over the last 24 hours.
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