A popular crypto analyst thinks a top-30 altcoin is gearing up for a parabolic rally.
The pseudonymous analyst known as Altcoin Sherpa tells According to its 240,200 followers on social media platform
“The pump to $50 will be great for HYPE. Hyperfluid. One of my bags.”
Looking at its four-hour chart, the trader suggests that HYPE is looking bullish as it has been trading in a range with a lower bound of $18.53 and an upper bound of $26.57, and is also trading above exponential moving averages.
HYPE is trading at $23.20 at the time of writing, up 4.9% in the last 24 hours.
Then the trader say Solana (SOL) has more room as Ethereum rival (ETH) threatens to reach the $260 resistance level on the weekly chart.
“SOL will still continue to grind and should still be the best layer-1 for the time being. It is uncertain whether this will outperform BTC, but my view in recent weeks is that it will continue to outperform ETH unless serious changes occur.”
SOL is trading at $255 at the time of writing, up 1.8% in the last 24 hours.
Finally, the trader say that despite his recent correction he remains bullish on Fartcoin (FARTCOIN), a memecoin that incorporates an artificial intelligence (AI) framework for the purpose of generating ideas and content.
“This is a nuclear bomb, just like the rest of the market. I’m not sure what to make of the over-the-counter news about FARTCOIN, but I still consider this a great meme for this cycle…
I’ve lost some of my position, but still a lot. Overall, this is a pretty ugly move and I’ll be reevaluating everything. Still bullish Fartcoin, but I won’t sidestep this.
FARTCOIN is trading at $1.26 at the time of writing, down 12.2% in the last 24 hours.
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Generated image: Midjourney