Renowned crypto analyst Altcoin Sherpa has shared insights on several altcoin projects, offering perspectives on their market structures and potential price movements.
Render (RNDR)
Altcoin Sherpa expresses confidence in Render (RNDR), highlighting its strong market structure and potential for outperformance in the near future. Despite advising against active trading due to low volatility, the analyst suggests RNDR is poised to break out to the upside, with its current price of $10.28 reflecting a nearly 3% increase in the last 24 hours.
Lido DAO (LDO)
In contrast, Altcoin Sherpa warns about Lido DAO (LDO), projecting a potential retest of lower Fibonacci retracement levels. With LDO trading at $2.33 at the time of writing, down 2.1% in the last 24 hours, caution is advised for investors eyeing this Ethereum staking project.
Celestia (TIA)
Lastly, Altcoin Sherpa offers a bullish outlook on Celestia’s native asset (TIA) in the near term. However, the analyst cautions against long-term holding due to an upcoming token unlock event, which could introduce new sellable supply and potentially lead to a decline in the coming months. With a focus on generating exit liquidity before the unlock, Altcoin Sherpa suggests monitoring for bullish news to capitalize on potential price movements.
In summary, Altcoin Sherpa’s analysis provides valuable insights into the market dynamics of these altcoin projects, offering investors guidance on potential trading strategies and risk management.
