Crypto strategist Altcoin Sherpa, known for his insightful analysis, has identified three new digital assets that he believes are poised for significant growth in the coming weeks. Despite launching in unfavorable market conditions, these altcoin projects have caught his attention due to their potential upside.
The first project on Altcoin Sherpa’s radar is Wormhole (W), a cross-chain messaging protocol. He anticipates that this particular altcoin, in particular, has the potential to experience a substantial increase in value. Altcoin Sherpa suggests considering it as a spot trade.
The second project that Altcoin Sherpa highlights is Omni Network (OMNI), an Ethereum-based initiative. Similar to Wormhole, Altcoin Sherpa sees potential for OMNI to perform well in the near future.
Lastly, Altcoin Sherpa mentions TNSR, the governance token of the non-fungible token (NFT) platform called Tensor. This project also caught his attention and may present an opportunity for growth.
At the time of writing, the prices for these altcoins are as follows: W is trading at $0.62, OMNI at $25.20, and TNSR at $1.19.
While expressing his optimism about these altcoin projects, Altcoin Sherpa also offers a cautionary note regarding Bitcoin (BTC). He believes that BTC is in a precarious position as it hovers around the midpoint of a trading range on the four-hour chart. Due to this uncertainty, Altcoin Sherpa advises staying flat for active positions and refraining from trading near the 0.5 Fibonacci level, which coincides with the four-hour 200 exponential moving average. However, he remains bullish on spot alts and is willing to buy back at higher levels if necessary.
As of now, Bitcoin is trading at $66,216, showing a 2.6% increase in the last 24 hours.
It’s important to note that the opinions expressed by Altcoin Sherpa are not investment advice. Investors should conduct thorough research before engaging in high-risk investments in Bitcoin, cryptocurrencies, or digital assets. The Daily Hodl, where Altcoin Sherpa’s insights were shared, reminds readers to take responsibility for their own transfers and trades, as any losses incurred are their own. The publication does not endorse the buying or selling of cryptocurrencies or digital assets, nor does it provide investment advice.
