A widely followed analyst and trader is leaning bullish on a top-30 altcoin by market cap while outlining the path forward for three other crypto assets.
The analyst pseudonymously known as Sherpa tells his 239,700 followers on the social media platform X that the utility token of the decentralized open financial system, Hyperliquid (HYPE), is likely to surge by at least 116% from the current level before the end of this cycle.
“…I still think HYPE is a great project and will go to $50+ later this cycle. It just hits too many narratives and I have a bag of this (and I’m doing a little trading just to hope to get more points). Wouldn’t rush into a position here but more scale in. Not one to give you a 10x at these current levels for this cycle in my opinion but could still be a safe one to hold.”
Hyperliquid is trading at $23.16 at time of writing.
Next up is XRP. While observing that XRP is demonstrating strength as it sits just below its all-time high, Sherpa says that XRP is not at an ideal level for long entries.
“For what it’s worth, I don’t actually recommend you buy more at this current position. It’s at former all-time high and this is a natural retracement point. Think you should be patient with it. I’m going to wait a bit before adding and hope it dips.”
Next up is Cardano (ADA). The analyst says Cardano appears “pretty strong” on the weekly time frame and could continue to go up as long as other first-generation altcoins continue to appreciate.
Turning to Dogecoin (DOGE), Sherpa says the largest memecoin by market cap “looks strong still.”
According to Sherpa, Dogecoin could trade in a range for a while before revisiting the 42-month high of around $0.485 reached in December.
Dogecoin is trading at $0.412 at time of writing.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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