A well-known crypto analyst, Altcoin Sherpa, shared their top picks for the crypto market, focusing on short-term potential. Their analysis, shared with over 240,000 followers on X (formerly Twitter), highlights some promising altcoins and offers a cautious outlook on Ethereum.
Hyperliquid (HYPE) Takes the Spotlight
Sherpa ranks Hyperliquid (HYPE), a utility token within a decentralized finance system, among their top three best plays. At the time of writing, HYPE was trading at $23.27, down slightly for the day. Their full ranking was: cash, major cryptocurrencies (like Bitcoin), HYPE, then other utility tokens like AAVE, LINK, XRP, and OM. Everything else, according to the analyst, is less promising.
Ethereum (ETH): Bullish, But Proceed with Caution
While bullish on Ethereum (ETH) in the long term, Sherpa expresses some reservations about the short term. They note that many successful projects are built on Ethereum, but warn that ETH might be setting a “bull trap” – a temporary price increase before a further drop. ETH was trading at $2,662 at the time of the analysis, down slightly.
AI-Focused Altcoins Showing Promise
The analyst also points to two AI-related altcoins as potentially having reached their bottom: Artificial Superintelligence Alliance (FET) and Act I: The AI Prophecy (ACT). They believe these coins are in a consolidation period, with little price movement, but are optimistic about their future prospects. At the time of writing, FET was trading at $0.72, and ACT at $0.18.
Disclaimer: This information is for general knowledge and does not constitute financial advice. Always conduct thorough research and consider your own risk tolerance before making any investment decisions.
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