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Sujit Kumar
Oct 10, 2024
by Sujit Kumar

Crypto Analyst Sherpa Predicts Bitcoin Surge, Analyzes SUI, APT, and EIGEN

crypto analyst sherpa
Renowned cryptocurrency analyst Sherpa has shared a bullish outlook on Bitcoin (BTC), suggesting that a significant price movement is imminent. Sherpa, who has over 224,000 followers on X, highlighted the "extremely tight" price compression on Bitcoin's daily chart, citing the convergence of the 25-period, 55-period, 100-period, and 200-period exponential moving averages (EMAs). According to Sherpa, this technical setup suggests that Bitcoin is poised for a major move, likely to the upside. At the time of writing, Bitcoin is trading at $62,150.

Sui (SUI) Sees Strong Gains but Faces Future Supply Risks

Sherpa also commented on the layer-1 altcoin Sui (SUI), which has experienced remarkable price growth over the past few weeks. Sui is currently trading at $1.92, up by over 100% in the last 30 days. However, the analyst warned that the coin’s future supply will increase due to token unlocks, making it a great short-term trade but a risky long-term hold.

Aptos (APT) Looks Strong for Short-Term Gains

Aptos (APT), another layer-1 blockchain, was also on Sherpa’s radar. The analyst stated that Aptos looks strong in the short term and could be a good spot trade opportunity. Aptos is currently priced at $9.12, with Sherpa predicting a potential rise above $10.

Eigenlayer (EIGEN) at a Crucial Juncture

Lastly, Sherpa analyzed the Ethereum restaking protocol Eigenlayer (EIGEN), noting that it is at a critical point. He advised waiting for a decisive breakout before committing to a position, as the token is still in its early stages of development.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Bitcoin surge Crypto Analyst APT SUI sherpa eigenlayer
Crypto Analyst Sherpa Predicts Bitcoin Surge, Analyzes SUI, APT, and EIGEN
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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