- Altcoin Sherpa, a pseudonymous trader, hints at more upside for meme coin Pepe (PEPE) following a key resistance breakthrough, while sharing a cautious outlook on Bitcoin and Worldcoin.
- Pepe sees a 16.9% rise in a day, Bitcoin faces a convergence of key exponential moving averages (EMAs), and Worldcoin approaches a crucial resistance level.
In a fresh market outlook shared with his sizable following, pseudonymous trader Altcoin Sherpa pinpoints a meme coin believed to hold additional upside potential, amidst a cautious stance on Bitcoin (BTC) and Worldcoin (WLD).
Pepe: A Meme Coin on the Rise?
In a surprising twist, Dogecoin rival, Pepe (PEPE) rallies past a significant resistance level, an event that caught the attention of Altcoin Sherpa. Despite the unexpected surge, Sherpa hints at the possibility of a further ascent for Pepe. According to his analysis on platform X, the meme coin crushed one of the three vital resistance zones, driving speculations of more bullish behavior. As of the last report, Pepe trades at $0.000000716, boasting a 16.9% price increment within the last 24 hours. The forthcoming resistance, as per Sherpa’s chart, ranges between $0.00000078 to $0.000000820.
Bitcoin: A Clouded Future?
The trader’s commentary on Bitcoin leans towards a bearish end-of-year outcome. He elucidates the ongoing market ambiguity as Bitcoin’s price dances near key exponential moving averages (EMAs) acting as resistance. In his deduction, the year may conclude with a downtrend, possibly bottoming around $28,000, reflecting a continuation of the market chop witnessed since 2019. Currently, Bitcoin’s price hovers at $26,595, with a modest 0.1% rise in the last 24 hours.
Worldcoin: A Brief Respite before a Dip?
Lastly, Sherpa throws a spotlight on AI-based altcoin Worldcoin (WLD), anticipating a price retraction post a fleeting rally. The altcoin, trading close to a vital resistance level at $1.62, a 7.5% bump from the previous day, may be poised for a lower high, predicts the trader. Sherpa mentions his entry point at approximately $1.42, eyeing the unfolding market dynamics with keen interest.
Altcoin Sherpa’s dissection of these digital assets sheds light on the multifaceted factors at play, crucial for traders and investors navigating the volatile crypto waters. His predictions reflect a blend of caution and optimism as each coin charts its unique path in the unpredictable cryptocurrency landscape.