A Crypto Trader Identifies Potential Entry Points for AI Altcoins
A popular crypto trader, known as Altcoin Sherpa, is highlighting potential entry points for three artificial intelligence (AI) altcoins. In a tweet, Altcoin Sherpa advises traders to pay attention to Fetch.ai (FET), Worldcoin (WLD), and Bittensor (TAO).
The trader suggests using the .236 and .382 Fibonacci levels as good starting points, cautioning against going all-in on any single entry and avoiding FOMO (fear of missing out). Altcoin Sherpa emphasizes that these trades are more suitable for short-term trades rather than long-term investments. The trader also predicts a possible pullback or consolidation in the near future, indicating that a few days of ranging at high levels would be ideal.
Potential Entry Points for Each Altcoin
Fetch.ai, an AI platform for decentralized applications, is currently trading at $1.06. According to Altcoin Sherpa’s chart, potential entry points for the asset are $0.7669 and $0.6856.
Worldcoin, a controversial biometric crypto project focused on digital identity, is trading at $6.72. The chart suggests potential entry points at $6.618 and $5.764.
Bittensor, a blockchain platform specializing in machine learning and AI, is currently priced at $628.33. The potential entry points highlighted by Altcoin Sherpa are $586.68 and $517.75.
Key Considerations for Traders
Altcoin Sherpa advises traders to watch out for volatility, high volume, and wicks in both directions as potential indicators of a local or bigger market top. The trader believes that AI plays continue to be promising and suggests keeping an eye on leaders like TAO and WLD, as their pullbacks may impact the broader market. Altcoin Sherpa encourages traders not to be discouraged by the perception of AI altcoins being “already pumped” and to consider investing in them.
Disclaimer: The information provided here is for informational purposes only and should not be taken as investment advice. Always conduct your own research before making any investment decisions.
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