A crypto analyst says an under-the-radar altcoin could undergo a steep correction after rising by triple-digit percentage points since June.
The pseudonymous trader Altcoin Sherpa say he believes that the blockchain oracle altcoin Tellor Tributes (TRB) will be one of the “best coins” to short in the coming months.
Altcoin Sherpa predicts that TRB will “fall all the way back,” while attaching a chart with a price target of around $14.
Tellor is trading at $45.90 at the time of writing, up about 373% from its June 12 price of $9.70.
As for Bitcoin (BTC), the pseudonymous analyst say the flagship crypto asset will likely trade without clear direction for months before the “fun” begins.
“I think we are still in a period of serious problems, without a real outbreak yet. Reminds me a lot of 2019, when prices traded up and down, above and below the 200-day EMA (exponential moving average) with weird spikes everywhere.
Still think 2024 – 2025 is the time for fun, try to survive until then.”
Bitcoin is trading at $26,821 at the time of writing.
Next up is Dogecoin (DOGE). While attaching a chart showing that DOGE is about to retest a support level that has held for over 14 months, says Altcoin Sherpa say that he sees no opportunistic moves for the flagship memecoin.
Dogecoin is at $0.0580 at the time of writing.
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Generated image: Midjourney