A well-known crypto analyst has identified five altcoins that he believes are demonstrating strength despite the volatile market conditions.
Altcoin Sherpa, a pseudonymous crypto trader with a significant following of 217,200 on the social media platform X, has highlighted layer-1 protocol Injective (INJ), cross-chain protocol Wormhole (W), data democratization project JasmyCoin (JASMY), Bitcoin (BTC) layer-2 scaling solution Stacks (STX), and layer-1 blockchain Toncoin (TON) as bullish prospects in a market that is mostly range-bound.
“These are the ones to watch for active trades, as a lot of other options don’t look promising right now.”
According to the analyst, Wormhole stands out as one of his top choices. However, he cautions that there could still be a potential pullback and period of stagnation for W.
“Wormhole is currently one of the strongest coins in the market. Keep a close watch on this if you are actively trading. I am looking to buy in on the breakout – if there is a significant pullback, it will still be trading within the same range and not yet ready for the major move we are anticipating.”
W is currently trading at $0.644, showing a slight decrease in the last 24 hours.
Moving on to JASMY, Altcoin Sherpa expresses optimism about the token’s strength, predicting that it will likely reach its resistance level before any potential correction.
“JASMY is showing incredible strength. I’m not entirely sure what this project does, but it didn’t even flinch today. It appears that it could potentially reach $0.067 before any significant pullback occurs.”
JASMY is currently trading at $0.0397, showing a 5.25% increase in the last 24 hours.
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