A crypto analyst known as Altcoin Sherpa has recently made some predictions regarding the price movements of several altcoins, including Tellor Tributes (TRB), Bitcoin (BTC), and Dogecoin (DOGE).
Altcoin Sherpa believes that TRB, an altcoin associated with the blockchain oracle Tellor, will experience a significant correction in the coming months. He predicts that the price of TRB will drop all the way down to around $14, which represents a considerable decrease from its current price of $45.90. Since June 12th, TRB has surged by triple-digit percentage points, making it an appealing coin to short, according to Altcoin Sherpa.
Furthermore, Altcoin Sherpa shares his thoughts on Bitcoin, suggesting that it is likely to trade without a clear direction for the next few months before any significant movements occur. He draws parallels between the current market conditions and those of 2019, where prices fluctuated above and below the 200-day exponential moving average (EMA) with sporadic spikes. Altcoin Sherpa believes that the real excitement and price movements for Bitcoin will not occur until 2024-2025.
In addition to TRB and BTC, Altcoin Sherpa also mentions Dogecoin, the popular meme-based cryptocurrency. However, he does not see any attractive trading opportunities for DOGE at the moment. Altcoin Sherpa includes a chart indicating that DOGE is on the verge of retesting a support level that has held for over 14 months. As of now, Dogecoin is trading at $0.0580.
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It’s important to note that these predictions and opinions are solely those of Altcoin Sherpa and should not be considered as investment advice. Investors are always advised to conduct their own research and exercise caution when making high-risk investments in cryptocurrencies.
In conclusion, Altcoin Sherpa predicts a steep correction for TRB, believes that Bitcoin will trade with significant volatility in the near future, and sees no promising movements for Dogecoin at the moment. As always, it is crucial for investors to stay informed and make informed decisions when it comes to investing in cryptocurrencies.
