Analyst Says Layer-1 Altcoin Will Do Big Numbers This Year, Updates Forecast on Near and Fetch.ai

A widely followed crypto strategist believes that a layer-1 altcoin running on a hybrid consensus mechanism will do big rallies this year.

Pseudonymous analyst Altcoin Sherpa tells his 215,600 followers on the social media platform X that he’s bullish on Core (CORE).

According to the analyst, CORE looks strong after erasing most of the losses witnessed earlier this month.

“CORE: These [Fibonacci levels] have held up extremely well. The chart also looks very solid. I have a bag of this one and think it’s going to do big numbers in 2024.

Wouldn’t personally buy around this current $2.70-$2.90 level but would rather wait for a dip around $2.20-ish to buy.”

At time of writing, CORE is trading for $2.50, up over 355% from its 2024 opening price of $0.549.

The trader is also keeping an eye on Ethereum (ETH) challenger Near (NEAR). Altcoin Sherpa shares a chart suggesting that NEAR will pull back below $6.50 before rallying toward his target at $8.50.

“NEAR: something like this would be good, in my opinion.”

At time of writing, NEAR is worth $6.99.

As for the artificial intelligence (AI)-focused altcoin Fetch.ai (FET), Altcoin Sherpa predicts that FET will likely revisit its local bottom at $1.80 before going through a bullish reversal.

“FET: first .50 Fibonacci test looking pretty good for now. We’ll see if there is a follow-up or if we get another test there. Truthfully, I think we see another test at that $1.80 level at least once more before this takes off later. Be patient.”