A Crypto Analyst Warns of a Correction for Ethereum-Based Altcoin
A popular crypto analyst, known as Altcoin Sherpa, has issued a warning to traders about Tellor Tributes (TRB), an Ethereum-based Chainlink rival. Altcoin Sherpa believes that TRB is due for a correction after experiencing a 300% rally since mid-August. The analyst suggests that TRB may rally towards $45 before dropping below $28. At the time of writing, TRB is trading at $38.45.
Bitcoin Primed to Break Key Resistance Level
Altcoin Sherpa also comments on Bitcoin, stating that it is ready to surpass a crucial resistance level. The analyst predicts that Bitcoin will reach $28,000 and advises against fighting this upward trend. Currently, Bitcoin is trading at $27,120.
On-Chain Activity Signals Bull Run for Bitcoin
Another crypto analyst, Ali Martinez, echoes Altcoin Sherpa’s sentiment regarding Bitcoin. Martinez points out that Bitcoin’s on-chain activity indicates the beginning stages of a bull run. Increased on-chain activity suggests strengthened network fundamentals and heightened usage. Despite stagnant prices, BTC’s on-chain activity continues to expand, indicating a potential resumption of the bull run.
Hot Take: Analyst Cautions Traders About TRB While Expecting BTC Breakout
In summary, Altcoin Sherpa warns traders about the possibility of a correction for Tellor Tributes (TRB) after its significant rally. Meanwhile, the analyst predicts that Bitcoin is poised to break above a key resistance level and resume its upward trajectory.
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