Altcoin Sherpa, a crypto trader and analyst, recently shared his analysis on several altcoins on his YouTube channel. While he acknowledged that the altcoin market is still influenced by Bitcoin (BTC), he suggested that LINK, PEPE, and SUI may offer good medium- to long-term buying opportunities.
The trader started by examining Dogecoin (DOGE) and concluded that it has yet to establish a convincing trend, making it unsuitable for short-term buying. Though he predicted it could reach $0.1 again, he didn’t think it was a good project to invest in at present.
Similarly, he stated that Ripple (XRP) was not worth buying as it had remained in a parallel range for over a year. He predicted that if the remittance token’s price moved, it would be a strong move either upwards or downwards.
Regarding Sui (SUI), the trader noted that it was trading at the 0.5 Fibonacci level and could experience a significant surge, although he could not specify when. However, he also mentioned that market markers could easily manipulate the token, and a dump in Bitcoin (BTC) could cause SUI to drop to $0.82.
The trader was optimistic about Pepe (PEPE) and highlighted that it was trading in a robust demand zone. Consequently, he suggested that it was an excellent medium- to long-term buying opportunity but reminded investors that it could be affected by BTC’s movements.
Lastly, Altcoin Sherpa analyzed Chainlink (LINK) and observed that all of the EMA lines were positively aligned on the altcoin’s daily chart. Nonetheless, he advised waiting until it broke $9.50 before entering a buy order because it had been consolidating for a year. If BTC were to dump in the coming weeks, he projected that LINK could fall to as low as $5.50.