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A well-known cryptocurrency analyst known as Sherpa presents a positive outlook on Bitcoin (BTC) 
$105,915 while evaluating three altcoins. In a statement to his 224,200 followers on the social media platform X, he noted that Bitcoin is experiencing “extremely tight” price pressure due to the convergence of the 25, 55, 100, and 200-period exponential moving averages on its daily chart.
Anticipated Major Movement in Bitcoin
Analyst Sherpa indicates that a significant movement in Bitcoin may be imminent, likely in an upward direction. Bitcoin is currently trading at around $62,150. He stated, “A major movement is coming, likely upward.”
Sui’s Market Performance
Sherpa discussed the “crazy” price performance of the layer-1 altcoin Sui (SUI) over the past few weeks. However, he also mentioned that the supply of Sui is expected to increase in the future. He pointed out that while this presents a strong trading opportunity, it may not be the best option for long-term holding due to the potential rise in supply.
The analyst commented, “This makes for a great trade, but considering the supply increases, it may not be the best hold.”
Aptos and Eigenlayer Review
Regarding the layer-1 blockchain Aptos and its native token APT, Sherpa acknowledged uncertainties in the long term but noted strong performance in the short term. Currently priced at $9.12, APT has seen an approximately 50% increase over the last 30 days. For Eigenlayer (EIGEN), Sherpa suggested waiting for a real breakout before making decisions, as the protocol is still in a decision-making phase.
“APT: I’m not sure how it will perform in the long term, but it looks really strong in the short term. You could expect good spot trading here, and it might go above $10. It’s a good coin.”
Eigenlayer is currently trading around $4, and Sherpa believes it’s better to wait for a significant breakout to assess whether the momentum can be sustained.
“I think it’s better to wait for a real breakout and then jump on the train. We’ll see if this momentum is truly sustainable.”
The analyst’s insights suggest potential opportunities in Bitcoin and certain altcoins. Although strong short-term performances are observed, caution is advised for long-term holdings.
As volatility continues in the crypto markets, it is crucial for market participants to closely monitor analyses and conduct their research. The ongoing role of Bitcoin as a leading digital asset and the sustainability of altcoin growth remain key points of interest.
