A widely followed crypto analyst says a major artificial intelligence (AI) project is poised to skyrocket soon as he updates his views on two smart contract platforms.
In a new strategy session, crypto trader Altcoin Sherpa tells its 223,600 followers on the social media platform
“As far as I’m concerned, FET is breaking out quickly.”
The trader’s chart indicates that FET would reach a price tag of around $1.50. The prediction appears to be coming true as FET is trading at $1.53 at the time of writing, up over 15% over the past 24 hours.
We move on to layer-1 smart contract platform Sui Network (SUI), Sherpa say The altcoin’s chart pattern is consolidating, which is what traders would ideally want to see before purchasing an asset.
“Even in extremely bullish environments, you should still try to wait for a dip or consolidation day before buying. Check the price action on something like SUI; you want to see something like this where it pauses before getting an edge again.
SUI is trading at $1.33 at the time of writing, up 13.35% on the day.
The trader then mentions layer 2 scale solution Fantom (FTM), noting that a “clean market structure break” will occur in the near future. According to Sherpa, traders have two options in this type of scenario.
“Clear market structure breaks for some of these, such as FTM. There are two ways you can play these things: you can either get in early but risk getting shuffled out or taking too much drawdown, or you can just get in when the trend is confirmed but the first part of the miss move.
FTM is trading at $0.64 at the time of writing, a gain of 13.4% on the day.
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Featured image: Shutterstock/Digital Store/KWstudio