A popular crypto analyst thinks one top-30 altcoin is gearing up for a parabolic rally.
The pseudonymous analyst known as Altcoin Sherpa tells his 240,200 followers on the social media platform X that HYPE, the utility token of decentralized perpetual futures exchange Hyperliquid, may more than double in value this cycle.
“The pump to $50 will be glorious for HYPE. Hyperliquid. One of my bags.”
Looking at his four-hour chart, the trader suggests that HYPE is looking bullish as it has been trading in a range with a lower bound of $18.53 and an upper bound of $26.57, and it is also trading above exponential moving averages.
HYPE is trading for $23.20 at time of writing, up 4.9% in the last 24 hours.
Next up, the trader says Solana (SOL) has more room to run as the Ethereum (ETH) competitor threatens to take out the $260 resistance level on the weekly chart.
“SOL is still going to keep grinding up and still should be the best layer-1 for now. Uncertain if this outperforms BTC but I think the past few weeks that it’ll keep outperforming ETH unless some serious changes happen.”
SOL is trading for $255 at time of writing, up 1.8% in the last 24 hours.
Lastly, the trader says that despite its recent correction he remains bullish on Fartcoin (FARTCOIN), a memecoin that incorporates an artificial intelligence (AI) framework for the purposes of generating ideas and content.
“This nuked, same as the rest of the market. I am unsure what to think on the over-the-counter news for FARTCOIN, but I still view this as a great meme for this cycle…
Took some off of my position but still in a lot. Overall, this is a pretty ugly move and I’ll reevaluate everything. Still bullish Fartcoin but I won’t round trip this.”
FARTCOIN is trading for $1.26 at time of writing, down 12.2% in the last 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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