A prominent crypto analyst has updated his outlook for three other tokens, saying a clear bullish pattern is forming for one artificial intelligence (AI)-focused altcoin.
Anonymous cryptocurrency trader Altcoin Sherpa told his 223,300 followers on social media platform X that there was a “clear bullish trend” underway for machine learning protocol Bittensor (TAO).
The trader shares a chart showing TAO breaking out of its multi-month accumulation range.
“TAO has never fallen to the low of its range. The extension and clear bullish trend is my view right now. The dip is a buy.”
At the time of writing, TAO is trading at $488.88, up 5.20% over the past day.
Regarding the underlying asset of the Federation of Artificial Intelligence (FET), the trader said he would wait for the coin to drop slightly before taking a long position.
“FET – I think $1.50 would be a decent first entry, but it could be quite aggressive. If you are patient, you could expect to see levels around $1.37. Personally, I would see a few entries at $1.50.”
As of this writing, FET is trading at $1.62.
Altcoin Sherpa also looked at Celestia (TIA), a layer 1 modular blockchain, noting that the asset has seen its first major bounce near its 100-day exponential moving average (EMA).
“If you like this, I’d aim for around $5.11 for the first item.”
At the time of writing, TIA is trading at $5.42, down 7.34% over the last 24 hours.
The trader concluded his analysis on Mimecoin POPCAT, saying that the token could only see minor corrections before a breakout.
“POPCAT broke right after a slight pullback. Bullish on all the betas that come with it (aura/ hehe/ etc).”
At the time of writing, POPCAT is trading at $0.923, up 4.42% on the day.
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