TL;DR
- Altcoin analyst Sherpa highlights trading opportunities in various cryptocurrencies.
- SEI, PEPE, ENA and TIA are some of the coins analyzed by Altcoin Sherpa.
- The importance of technical levels such as the 200-day EMA and Fibonacci levels is emphasized.
Altcoin Sherpa, an analyst and trader followed by a large audience on social media, has shared his views on several prominent cryptocurrencies in the current market.
In his recent analysis, he has pointed out interesting opportunities in coins such as SEI, PEPE, ENA and TIA.
Coins like $SEI are at pivotal areas. 200d EMA, .618 fib of the entire move up. Probably good places to bid if you like the tech. I'm personally staying away from this one but it could be a decent trade. Going to be heavily dependent on btc (obv) pic.twitter.com/CUfKR42fBs
— Altcoin Sherpa (@AltcoinSherpa) April 18, 2024
Commencing the analysis with SEI, Altcoin Sherpa keenly highlights the coin’s positioning within a critical technical realm.
Situated in close proximity to both the 200-day Exponential Moving Average (EMA) and the 0.618 Fibonacci retracement level, SEI appears to be offering a compelling narrative for potential investors looking to delve into its technological ecosystem.
This confluence of technical factors suggests a potential alignment of market forces that could lead to notable buying opportunities, especially for those seeking exposure to SEI’s unique value propositions and developmental trajectory within the broader cryptocurrency landscape.
However, the analyst indicates that he personally stays away from this currency due to its heavy dependence on the direction Bitcoin takes in the market.
As for PEPE, the analysis reveals that this cryptocurrency is above the 200-day EMA and the 0.618 Fibonacci level on the 12-hour chart.
Although the appearance of the chart, Altcoin Sherpa suggests that many altcoins are at significant support levels
In regards to ENA, Altcoin Sherpa has shared his strategy of accumulating this token due to its advantageous position near the reversal point.
Specifically, ENA is positioned slightly above the 0.50 Fibonacci level subsequent to experiencing a correction from its previous all-time high.
Despite the ongoing volatility within the Bitcoin market, Altcoin Sherpa remains optimistic about this accumulation strategy.
His confidence stems from the technical analysis indicating a potential turnaround for ENA at this specific buying level.
This approach highlights the trader’s attentiveness to key market indicators and his willingness to capitalize on favorable entry points amidst market fluctuations.
Finally, Altcoin Sherpa comments on TIA, highlighting its attractiveness for accumulation after a strong recovery following a correction in the market.
Although he recognizes that it implies greater risk, he suggests the possibility of considering long positions in TIA at current levels.
