Veteran crypto trader Altcoin Sherpa has included coins that are currently showing a buy signal in his current analysis. PEPE, LINK and SUI are the prominent projects of the list…
Medium and long-term buying opportunities according to Altcoin Sherpa
In a new video she shared on her YouTube channel yesterday, Sherpa said that the altcoin market is still under the influence of Bitcoin (BTC). However, projects such as LINK, PEPE and SUI continue to offer medium and long-term buying opportunities.
Dogecoin (DOGE)
Sherpa points out that there is no convincing trend for Dogecoin (DOGE). For this reason, he stated that he will not take a position in Dogecoin for a while. He also says that DOGE does not present a good investment opportunity in the short term.
Ripple (XRP)
Regarding Ripple (XRP), he stated that he is not considering buying it as it has been in a parallel range for over a year. However, he believes that if its price moves up or down, it could be a strong signal.
Sui (SUI)
Sui (SUI) was trading at the 0.5 Fibonacci level at the time the video was recorded. Sherpa believes that the altcoin can rise strongly. However, he did not give any predictions about when it will happen. However, he warned that if Bitcoin (BTC) falls, the SUI could drop to $0.82.
Pepe (PEPE)
Sherpa also has a positive view of Pepe (PEPE). Meme highlights that the coin is trading in a strong demand zone. Therefore, he considers PEPE to be both a medium-term and long-term investment opportunity. However, he reminded that the altcoin market is still under the influence of BTC.
Chainlink (LINK)
Altcoin Sherpa recently analyzed Chainlink (LINK). He noted that all EMA lines are positively lined up on the altcoin’s daily chart. However, he reminded that LINK has been in consolidation for more than a year and stated that it will not enter into a purchase before it reaches $9.50. He predicts that if BTC drops in the coming weeks, LINK will fall as low as $5.50.
Bitcoin price is about to break the $27,000 support
The BTC break that Sherpa expected to bring most altcoins to the bottom has taken place. BTC price action is providing little relief to Bitcoin bulls, despite US macro data showing inflation falling. As you follow on Kriptokoin.com, it is about to contact the $27,000 support at the time of writing.
Popular trader Crypto Tony said, “I personally stay short. But for anyone who hasn’t taken a position yet, I’d wait until they’ve lost $27,000 soon. Then I look at shorting this support zone loss,” he sums up.
Meanwhile, in the macro, the encouraging US Producer Price Index (PPI) and unemployment data gave crypto investors reason for cautious celebration. Recent readings from CME Group’s FedWatch Tool show that the rate hike in June was over 96%.
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