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Home»ALTCOIN NEWS»Crypto Trader Predicts Breakout Rally for FET, Updates Outlook for WIF and Two More Altcoins
ALTCOIN NEWS

Crypto Trader Predicts Breakout Rally for FET, Updates Outlook for WIF and Two More Altcoins

By Crypto FlexsSeptember 5, 20243 Mins Read
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Crypto Trader Predicts Breakout Rally for FET, Updates Outlook for WIF and Two More Altcoins
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A prominent crypto strategist believes one altcoin focused on artificial intelligence will see an uptrend.

Altcoin Sherpa, a pseudonymous analyst, told his 222,700 followers on social media platform X that he was gathering together a federation of artificial intelligence superintelligence (FET).

The trader shared a chart showing that FET could bottom near $1.10 before breaking to $1.70.

“FET: Underwater on first entry. If it breaks the 200 EMA in 4 hours, I’ll cut it. There’s a lower entry and I’ll wait. The chart still looks good on lower time frames, but I also know it’s in a bullish trend for the day. If it breaks $1.10, I’ll get out.”

Source: Altcoin Sherpa/X

At the time of writing, FET was trading at $1.12, down 9% from the previous day.

Analysts are looking at Memecoin Dogwifhat (WIF), and believe that Solana (SOL)-based altcoins will trade in a wide range for the time being.

“WIF looks like a good support area, but I don’t think it’s likely to reach ATH (all-time high). I think there’s still more upside and consolidation around this area. It’s best to be patient.”

video
Source: Altcoin Sherpa/X

Based on the trader’s chart, he seems to be predicting that WIF will move between $1.40 and $2.20. At the time of writing, WIF is valued at $1.48.

The trader is also closely watching the Layer 1 protocol Injective (INJ), which according to the analyst looks bearish after printing several lower highs (LH).

“INJ, I think the chart is still bearish overall and there is no end in sight. There are lower highs across the board. It should bounce *somewhere* but I don’t know where the actual bottom is.

Personally, I don’t think we’ll reach the previous ATH in this cycle, but I could be wrong.”

video
Source: Altcoin Sherpa/X

At the time of writing, INJ was valued at $15.19, down more than 12% from the day’s value.

Altcoin Sherpa is also showing a bearish trend against Near (NEAR), a competitor to Ethereum (ETH).

“NEAR I still like the project overall, but it is still in a bearish market structure. It needs to break its high and make a higher low before considering a reversal.”

video
Source: Altcoin Sherpa/X

At the time of writing, NEAR was valued at $3.67, down more than 11% from the day’s value.

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Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investment in Bitcoin, cryptocurrencies or digital assets. Your transfers and transactions are your responsibility and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and The Daily Hodl is not an investment advisor. The Daily Hodl participates in affiliate marketing.

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