A well-known crypto analyst, Altcoin Sherpa, is optimistic about Sonic (S), an Ethereum competitor. He believes it’s hit its bottom and is poised for a breakout.
Sonic (S): A Bullish Outlook (With a Caveat)
Sherpa, who boasts a large following on X (formerly Twitter), points to Sonic’s bounce off its 25-day Exponential Moving Average (EMA) as a positive sign. The EMA is a key indicator used to gauge whether an asset’s price is trending upwards. However, he cautions that Sonic’s potential rise hinges on Bitcoin (BTC) maintaining its current price level (around $87,300 at the time of writing). He summarizes his view: “I think S is a good buy at these levels, as long as BTC stays stable. There’s still a lot of activity on its blockchain.” Sonic is currently trading at $0.60.
Fartcoin (FARTCOIN): A Risky Bet?
Sherpa also commented on Fartcoin (FARTCOIN), an AI-based meme coin. He predicts it might dip to $0.47 (a Fibonacci retracement level) before potentially surging. However, he acknowledges uncertainty: “Fartcoin might consolidate or become a great buy around $0.47. I’m not sure which, but I’m holding onto mine and watching closely.” Fartcoin is currently trading at $0.55, down slightly.
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