A popular crypto trader thinks artificial intelligence (AI) altcoins are primed to do well in the latter part of this year despite underperforming in the past couple of weeks.
The pseudonymous analyst known as Altcoin Sherpa tells his 216,800 followers on the social media platform X that he’s looking at decentralized graphics processing unit (GPU) rendering blockchain Render (RNDR), AI and machine learning platform Fetch.ai (FET), the decentralized data storage protocol Arweave (AR) and the decentralized information processing protocol RSS3 (RSS3).
“The play right now is to just be patient, scale into the ones you like and just wait. We’ve seen a decent pullback on many of these and I think that there should be some decent buying opportunities available in the coming weeks. Still bullish on this sector myself.”
Altcoin Sherpa also feels somewhat bullish on Echelon Prime (PRIME), a web3 ecosystem that aims to advance the next generation of gaming.
“PRIME is a coin that everyone loves and a good gaming play for this current cycle.
We’ve seen a strong pullback and I’d personally view the $15-$11 area as a good strong place to accumulate if you like this project. I probably won’t buy but will observe. Lots of good TA (technical analysis) confluence there though with the 0.50 and 0.618 key Fibonacci levels + 200 day exponential moving average (EMA).”
PRIME is trading at $16.70 at time of writing.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Follow us on X, Facebook and Telegram
Generated Image: Midjourney
Read the full article here
