Crypto Analyst Altcoin Sherpa Predicts Rallies for Artificial Superintelligence Alliance (FET), Says Memecoin Dogwifhat (WIF) Will Continue to Trade Sideways

Pseudonymous analyst Altcoin Sherpa tells his 222,700 followers on the social media platform X that he's accumulating Artificial Superintelligence Alliance (FET).

Cryptocurrency trader Altcoin Sherpa, who boasts 222,700 followers on X, has recently shared his insights on several altcoins, including Artificial Superintelligence Alliance (FET), memecoin dogwifhat (WIF), layer-1 protocol Injective (INJ), Ethereum (ETH) rival Near (NEAR), and Solana (SOL).

Regarding FET, Altcoin Sherpa’s chart analysis suggests the possibility of a bottom forming around $1.10, followed by a potential breakout to $1.70. However, he notes that entries are underwater at the moment.

To optimize his strategy, the trader has planned additional entries at lower price points and will adjust his approach based on price action. While he anticipates a promising chart on lower time frames, he also acknowledges the broader bullish trend on the one-day chart. In his view, a price drop below $1.10 would prompt him to exit the trade.

At the time of writing, FET is valued at $1.12, having experienced a decline of over 9% in the past 24 hours.

Shifting to memecoin WIF, the analyst expresses his impression that the Solana (SOL)-based altcoin is likely to continue trading within a broad range for the time being.

In his assessment, WIF may encounter difficulties in achieving its all-time high (ATH) again in the near future. Instead, he anticipates extended periods of price consolidation and fluctuations around the current price zone. For traders, exercising patience is advised.

Based on the chart provided by the trader, WIF’s price movements appear to be confined within a range of $1.40 to $2.20. At the time of writing, WIF is valued at $1.48.

Another altcoin on the trader’s radar is Injective (INJ), which, in his view, presents a bearish outlook following a series of lower highs (LHS).

In his analysis, Altcoin Sherpa highlights the absence of lower lows, suggesting the possibility of a prolonged downtrend. However, he anticipates a price rebound at some point, though the precise bottom is yet to be determined.

Personally, the trader expresses skepticism regarding INJ reaching its former ATH during this cycle, although he acknowledges the potential for being proven wrong.

At the time of writing, INJ is valued at $15.19, having dropped by over 12% in the past 24 hours.

Among the altcoins under Altcoin Sherpa’s scrutiny, Near (NEAR) has also attracted his attention, and his analysis suggests a bearish market structure.

In his assessment, NEAR is in need of breaking a high and printing a higher low to establish a potential reversal. However, until these conditions are met, the trader maintains a bearish outlook.

At the time of writing, NEAR is valued at $3.67, having experienced a decline of over 11% in the past 24 hours.

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