A popular crypto analyst is warning investors about a potential downturn for three altcoins: Sui (SUI), Near (NEAR), and Artificial Superintelligence Alliance (FET).
Bearish Signals for SUI, NEAR, and FET
The analyst, known as Altcoin Sherpa, believes these altcoins are showing clear signs of a bearish market structure. He points to SUI’s sharp drop from its all-time high, NEAR’s consecutive lower highs on its weekly chart, and FET’s series of bearish lower highs and lower lows.
He’s concerned about the impact of factors like unstable Bitcoin prices and upcoming supply unlocks for some of these coins. He warns investors to be cautious and stay safe.
Long-Term Bullish on Bitcoin and Ethereum
While bearish on these altcoins, Altcoin Sherpa remains optimistic about Bitcoin (BTC) and Ethereum (ETH) in the long term. He believes both will reach new all-time highs later this year, especially with the potential approval of Bitcoin ETFs.
He also points to the historical bullishness of the fourth quarter for the crypto market, encouraging investors to hold on for potential gains.
Disclaimer: This information is for educational purposes only and should not be considered investment advice. Always conduct your own research before making any investment decisions.
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