- Crypto analyst Altcoin Sherpa is bullish on the native token of layer-1 blockchain Sui (SUI), expecting a significant price increase.
- Sherpa suggests that Pepe (PEPE) is currently experiencing high trading volumes within a specific price range, making it a potential swing long opportunity.
Sui (SUI) Poised for Significant Price Increase
Altcoin Sherpa, a well-known crypto analyst, predicts a substantial rally for the native token of the layer-1 blockchain Sui (SUI). With a relatively small overall float compared to the total supply, Sherpa believes that market makers can easily manipulate the token, making it an attractive investment. The analyst suggests that buying SUI around $1 could yield profitable returns, although the timing of the price surge remains uncertain.
However, Sherpa cautions that if the price of Bitcoin (BTC) experiences another downward move, SUI’s value is likely to decline by over 20%. Traders should consider Bitcoin’s performance as it could impact the entire altcoin market, including SUI. In such a scenario, the token could drop to the $0.80 to $0.82 range.
At the time of writing, SUI is trading at $1.13, and the Sui blockchain recently launched its mainnet.
Pepe (PEPE) Exhibiting High Trading Volumes
Sherpa notes that the controversial memecoin Pepe (PEPE) is currently displaying significant trading volumes within the price range of $0.0000015 to $0.0000020. This level has strong support, making it an attractive opportunity for swing long trades. However, the analyst emphasizes the importance of considering Bitcoin’s performance as it could influence Pepe’s price movement.
As of now, Pepe is trading at $0.00000164.
Chainlink (LINK) Presents Buying Opportunity
Altcoin Sherpa highlights Chainlink (LINK), a blockchain oracle network, as a potential buying opportunity. The analyst suggests waiting for LINK to break out of its long accumulation zone before considering a purchase. Once LINK surpasses the range high of around $9.15, Sherpa anticipates a strong bullish trend. The analyst notes that LINK has been consolidating for an extended period, which indicates a potential significant move in the future.
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In conclusion, Altcoin Sherpa expresses optimism regarding the price outlook for Sui (SUI), expecting a significant pump. The analyst also highlights the high trading volumes and potential swing long opportunity for Pepe (PEPE). Furthermore, Sherpa believes that Chainlink (LINK) will present a favorable buying opportunity once it breaks out of its long accumulation zone. As always, traders should closely monitor the performance of Bitcoin, as it can have a substantial impact on the altcoin market.
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