One closely watched cryptocurrency analyst has listed five altcoins he believes are showing strength despite choppy market conditions.
Pseudonymous cryptocurrency trader Altcoin Sherpa informs his 217,200 followers on social media platform Solution Stack (STX) and layer 1 blockchain Toncoin (TON) are both strong in a typically range-bound market.
“Keep an eye on these for active trading. A lot of them look cr*p at the moment.”
According to analysts, Wormhole is one of his top picks. However, he warned that W could still decline and stagnate.
“W is one of the most powerful coins right now. If you are actively trading, you will keep an eye on this. I want to buy this on breakout. If we see a strong decline, it will still be trading in the same range and we will not be prepared for the big move we all want.”
W is trading at $0.644 at the time of writing, down slightly over the past 24 hours.
Moving on to JASMY, Altcoin Sherpa says the token looks “very strong” and is likely to rise to resistance levels before a correction.
“JASMY is very strong. I have no idea what it does, but today it didn’t budge. Honestly, I think we could get to $0.067 before there is a big decline.”
JASMY is trading at $0.0397 at the time of writing, up 5.25% in the last 24 hours.
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