A popular crypto trader believes artificial intelligence (AI) altcoins are poised to do well in the second half of this year, despite underperformance in recent weeks.
The pseudonymous analyst known as Altcoin Sherpa tells his 216,800 followers on the social media platform X that he is watch decentralized graphics processing unit (GPU) rendering blockchain Render (RNDR), AI and machine learning platform Fetch.ai (FET), the decentralized data storage protocol Arweave (AR) and the decentralized information processing protocol RSS3 (RSS3).
“The game right now is to just be patient, scale up to the one you like and just wait. We’ve seen quite a pullback in many of these stocks and I think there should be some decent buying opportunities available in the coming weeks. I am still optimistic about this sector.”
Altcoin Sherpa is also feeling somewhat optimistic about Echelon Prime (PRIME), a web3 ecosystem that aims to advance the next generation of gaming.
“PRIME is a coin that everyone loves and a good play for this current cycle.
We have seen a strong pullback and I would personally see the $15-$11 area as a good strong place to accumulate if you like this project. I probably won’t buy, but will observe. However, there is a lot of good TA (technical analysis) confluence with the 0.50 and 0.618 key Fibonacci levels + 200 day exponential moving average (EMA).
PRIME is trading at $16.70 at the time of writing.
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Generated image: Midjourney