A Crypto Analyst Warns of a Potential Steep Correction for an Altcoin
A crypto analyst, known as Altcoin Sherpa, believes that Tellor Tributes (TRB), an under-the-radar altcoin, could experience a significant correction after its triple-digit surge since June. Altcoin Sherpa predicts that TRB will retrace back to around $14, which is a considerable drop from its current price of $45.90. The blockchain oracle altcoin has gained approximately 373% since June 12th.
Bitcoin’s Direction Remains Unclear
Altcoin Sherpa also provides insights on Bitcoin (BTC), stating that it is likely to trade without a clear direction in the coming months. Drawing parallels to 2019, the analyst suggests that Bitcoin’s price will fluctuate above and below the 200-day exponential moving average (EMA) with occasional spikes. Altcoin Sherpa believes that the real excitement in the market will begin around 2024-2025.
Dogecoin’s Support Level Tested
Altcoin Sherpa notes that Dogecoin (DOGE) is on the verge of retesting a support level that has held for over 14 months. However, the analyst does not see any favorable movements for DOGE at the moment. Dogecoin is currently priced at $0.0580.
Hot Take: Altcoin Sherpa Warns of Potential Correction for TRB
Altcoin Sherpa cautions crypto enthusiasts about Tellor Tributes (TRB), an altcoin that has surged by triple-digit percentage points since June. The analyst predicts a steep correction for TRB, with a target price of around $14. Meanwhile, Altcoin Sherpa suggests that Bitcoin’s direction will remain unclear for the next few months, similar to the market conditions in 2019. As for Dogecoin, the analyst sees no favorable movements for the meme-inspired cryptocurrency at present.
By
By
By
By