Analyst Says Clear Bull Trend Underway for AI-Focused Altcoin, Updates Forecast on FET and Two Other Coins
A closely followed crypto analyst says that a clear bull pattern is forming for one artificial intelligence (AI)-focused altcoin while updating his outlook on three other tokens.
Pseudonymous crypto trader Altcoin Sherpa tells his 223,300 followers on the social media platform X that a “clear bull trend” is underway for machine learning protocol Bittensor (TAO).
The trader shares a chart suggesting that TAO has broken out of its multi-month accumulation range.
“TAO never dropped to the range low. Expansion and clear bull trend now IMO (in my opinion), dips are for buying.”
Source: Altcoin Sherpa/X
TAO is trading for $488.88 at time of writing, a 5.20% increase during the last day.
Moving on to the native asset of the Artificial Superintelligence Alliance (FET), the trader says he’s waiting for the coin to witness a minor pullback before going long.
“FET – I think $1.50 could be an ok first entry, but pretty aggressive. If patient, you can hope for $1.37ish levels. Would probably do some entries at $1.50 though personally.”
Source: Altcoin Sherpa/X
FET is trading at $1.62 at time of writing.
Altcoin Sherpa is also looking at the layer-1 modular blockchain Celestia (TIA), noting that the asset had its first major retracement near its 100-day exponential moving average (EMA).
“Would target $5.11ish for first entries if you like this one.”
Source: Altcoin Sherpa/X
TIA is trading for $5.42 at time of writing, a 7.34% decrease during the last 24 hours.
Concluding his analysis with the memecoin Popcat (POPCAT), the trader says the token may be one small correction away from a breakout.
“POPCAT breaks soon after a bit of a pullback. Bullish on all the beta that comes with it (aura/ hehe/ etc).”
Source: Altcoin Sherpa/X
POPCAT is trading for $0.923 at time of writing, a 4.42% increase on the day.
Generated Image: Midjourney
