Source: Daily Hodl Staff
A popular crypto trader and analyst is revealing his outlook on leading memecoin Dogecoin (DOGE), smart contract platform Solana (SOL), and another large-cap altcoin.
The pseudonymous analyst known as Altcoin Sherpa tells his 170,000 followers that he’s got his eye on Dogecoin, and waiting for more downside before thinking about pulling the trigger on DOGE.
“DOGE: Probably a good buy at .05 to be honest”
If the analyst’s expectations come to be, DOGE will collapse another 54% before finding support and potentially igniting another bull run.
When it comes to Solana, Altcoin Sherpa says that he’s still undecided on SOL. According to him, one last shakeout to the downside is a likely scenario, but the $80 range could act as a solid accumulation range.
“SOL: Undecided if I think this is the bottom or not, short term bottom looks possible but I’m still waiting for 1 potential last shakeout. I think it’s an ok idea to start scaling in around 80ish a little bit personally but there is no change in market structure yet.”
The analyst also has his radar locked on FTT, the utility token on crypto exchange FTX. While FTT has mostly traded sideways for some time now, Altcoin Sherpa says he may reluctantly flip bullish on the altcoin given that he thinks the token is in an accumulation zone.
“FTT: Hows your stablecoin feel?
Jokes aside, this 1 has held up way better than many other altcoins. I still don’t like buying this thing but I have to admit it’s looking like accumulation.”
As for Bitcoin, the analyst says he’s waiting for BTC to break $34,000 to confirm a downtrend, or $46,000 to confirm a new bull run as the flagship crypto asset continues to trade in a compressed pattern.
“BTC: I’m not doing anything until 34k or 46k gets broken. Huge compression here, big move is incoming IMO. Wouldn’t be surprised to see a scam pump up. Lower highs and higher lows currently.”
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