Renowned and closely followed cryptocurrency analyst and trader, Altcoin Sherpa, known for his accurate predictions, revealed that Tellor Tributes (TRB), an altcoin that is not on the radar of many investors, has experienced a triple-digit increase since June and warns of a potential sharp correction in the near future. The analyst also shared his views on Bitcoin (BTC) and Dogecoin (DOGE).
“One of the Best Altcoins to Short”
Anonymous cryptocurrency analyst and trader Altcoin Sherpa believes that Tellor Tributes, a blockchain oracle project, will be one of the best altcoins to short in the coming months. He predicts a significant drop in TRB, pointing to a target price of around $14.
Tellor Tributes’ TRB was trading around $9.70 on June 12th and is currently trading at $45.90, indicating a 373% increase.
Analyst’s Bitcoin and Dogecoin Analysis
Following TRB, Altcoin Sherpa shared his views on Bitcoin, stating that the largest cryptocurrency will continue to trade without finding a clear direction in the coming months and that a significant rise will not begin until 2024-2025. He said:
“The way the price moves above and below the 200-day Exponential Moving Average (EMA) reminds me of 2019 when it traded with strange increases everywhere. I still think 2024-2025 is when the fun will begin, so hang in there until then.”
The largest cryptocurrency, BTC, is currently trading at $26,928 with a 0.51% increase in the last 24 hours, just below $27,000.
Lastly, analyzing Dogecoin, the anonymous analyst stated that DOGE may retest the long-held support level but does not foresee any significant opportunity in the largest memecoin at the moment.
DOGE is currently trading at $0.05819 with a 0.73% increase in the last 24 hours.