4 Altcoins to Watch, According to Top Crypto Analyst

Prominent crypto analyst Altcoin Sherpa is highlighting several altcoins that he'll be keeping a close watch on amid current market dynamics.

In a series of tweets, Sherpa shares his thoughts on several tokens, including Advanced Micro Devices Inc (NASDAQ:AMD) and his preferred levels for entering trades.

What Happened: Among the altcoins on Sherpa's radar is Virtual (CRYPTO:VIRTUAL), which he describes as "insane" and a "great coin."

"Want to buy the dip on this one more time, still no fib and looks like it's coming. Next fib is $2.27 if we get there (which I think we will if this volume keeps up).

HYPE, CRV, and TAO also look good in the 4H."

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A post shared by Altcoin Sherpa (@altcoinsherpa) on Apr.25, 2023 at 1:38 PDT

Sharing his thoughts on preferred entry levels for specific tokens, Sherpa adds, "Still think HYPE is good at $35.80, CRV at $3.60, and TAO at $3.06 for some entries if we get them."

Further elaborating on his perspective, Sherpa notes that while he's not particularly optimistic about massive gains from Ethereum (CRYPTO: ETH), it does present more protected downside for those seeking to capitalize on further potential.

"Not really seeing anything super crazy on ETH for huge gains, but I do like that we're getting more protected on the downside with this new candle. Still prefer some alts but wouldn't mind some more ETH at these prices."

Despite his measured tone regarding Ethereum, Sherpa remains bullish on select altcoins that are demonstrating strong momentum and technical setups.

"Thinking we might get a bit more of a dip on this new candle to complete the 0.382 fib. Would prefer some more of a dip to get closer to the 0.236 fib but wouldn't mind some more at these prices. Still prefer some alts but wouldn't mind more ETH."

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His advice to traders is to be patient and wait for dips to present opportunities to enter into promising tokens that combine strong fundamentals with favorable chart structures.

"Don't mind some more BTC at these prices either. Getting a bit tired of waiting but wouldn't mind some more coins at these levels.

Coins I'm interested in:

-VIRTUAL

-HYPE

-CRV

-TAO

Prefer to wait for some more of a dip to enter."

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A post shared by Altcoin Sherpa (@altcoinsherpa) on Apr.24, 2023 at 9:38 PDT

As always, traders are encouraged to conduct their own diligence before entering any positions.