A widely followed crypto trader is turning bullish on a handful of altcoins as digital assets attempt to find a bottom.
The pseudonymous trader and analyst known as Altcoin Sherpa says he’s bullish on KAITO, an artificial intelligence (AI)-powered Web3 information platform.
He tells his 243,000 followers on the social media platform X that he’s looking to see KAITO rally above the $2.50 level, about 20% higher than current prices.
“KAITO just longed around this area, targeting $2.50 and higher. will take profits along the way, hope BTC is stable.”
At time of writing, KAITO is worth $2.09.
Also in the AI sector, Altcoin Sherpa says AI Rig Complex (ARC), a Rust-based AI agent framework, is likely sitting at a local bottom and is ready to head higher.
“I still have a bag of this and still feel pretty decent about it. It’s shown a lot of strength relative to other AI coins and, although the volatility is high on it, I still think this is the relative bottom. 200 exponential moving average on the four-hour acting as a stopping point and $0.19 still seems like a decent entry in my opinion.”
At time of writing, ARC is trading for $0.22.
Looking at the mid-term time frame, the trader names three of his top altcoin picks. His watchlist includes the layer-one blockchain Sonic (S), decentralized finance (DeFi) protocol Maker (MKR), and a toss-up of intellectual property-focused project Story (IP), Ethereum (ETH) virtual machine (EVM) chain Berachain (BERA) and KAITO.
“If I were to choose three coins to hold for the mid-term, they’d probably be:
S: good defi activity, strong rebrand, lots of $$ going on there + Andre
MKR: insane chart, continually grinding higher, strong og defi
prob one of BERA/KAITO/IP, all these new coins are strong.”
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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.
Featured Image: Shutterstock/Tithi Luadthong/Natalia Siiatovskaia
