A closely followed trader known for making timely altcoin calls believes six crypto assets are the fastest horses in the digital asset race.
Pseudonymous analyst The Flow Horse tells his Telegram subscribers that six altcoins are ahead of the crypto pack including projects in the artificial intelligence (AI), memecoin and layer-1 sectors.
“Memes are more diverse, AI is led by TAO. Wif, Bonk, Pepe. Sei and Sui still strong. I would not really diversify outside of this leading pack until the market makes it very obvious. Be late to that change if you must.”
With the latest crypto correction, The Flow Horse thinks that the dip is not a signal that strong altcoins are ready to give up most of the gains witnessed over the last few weeks.
“Anything mega-strong is likely seeing just a cool down and not a reversal. I am not sure of the depth or magnitude, but I am pretty confident about the direction. As long as prior daily pivots hold (the idea that previous major resistance turns support) I see no reason to be overly concerned.”
The trader zooms in on the memecoin Pepe (PEPE) to show how strong coins have flipped a former resistance into support following the pullback.
“Keep an eye on what is showing strength, and anything that is at a prior inflection point:
e.g. Pepe…
If markets firm up and the uncertainty comes out, this is the level.”
At time of writing, PEPE is trading for $0.00000983, up from its 24-hour lows of $0.0000929.
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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/Pattern Trends/AtlasbyAtlas Studio
