A intently adopted crypto strategist believes that one red-hot memecoin could have extra upside potential.
Pseudonymous analyst Altcoin Sherpa tells his 217,600 followers on the social media platform X that PepeCoin (PEPECOIN) might retrace to a key stage earlier than resuming an uptrend.
“Sturdy PepeCoin is doing effectively proper now, displaying plenty of energy. To be decided if that is going to proceed momentum, however be careful for the 200-day EMA (exponential shifting common) round right here. $2.30ish can be an honest entry within the quick time period. I’ve a bag.”
PepeCoin is buying and selling for $2.97 at time of writing, a acquire of greater than 27,000% since October thirteenth, 2023 when it was price $0.01088.
Subsequent up, the analyst compares the worth chart of Synapse (SYN), a protocol that goals to allow safe cross-chain communication, to the worth chart of the sensible contract platform Sui Community (SUI).
He suggests SYN could also be forming an analogous SUI sample and will quickly break greater as a number of exponential shifting averages (EMAs) are heading greater on the four-hour chart.
“That is why I like SYN. That is the SUI chart (replay) earlier than versus SYN now. One of many issues I see although is that SUI has a legit bid and considerably narrative; SYN is a shitty bridge the place there are plenty of higher cash for that. Chart alone, I like SYN, however this may take a bit…
I believe the opposite bridges are most likely higher trades. However this can be a good chart so let’s see.”
SUI is buying and selling for $1.01 at time of writing, up greater than 19% within the final 24 hours. In the meantime, SYN Is buying and selling for $0.61 at time of writing, up 8.6% on the day.
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