A popular crypto analyst believes that one memecoin is poised to surge to higher levels later this year. Known as Altcoin Sherpa, the analyst has a strong bullish outlook on Dogecoin (DOGE) despite its current downtrend.
However, Altcoin Sherpa cautions that DOGE is currently in a bearish trend after dropping below its 200-week exponential moving average (EMA). He still believes that Dogecoin will see significant gains in the future, but acknowledges the current challenges it is facing.
As of the time of writing, Dogecoin is trading at $0.106. Altcoin Sherpa also provides insights on Bitcoin (BTC), anticipating a bounce in its price after falling below the 200-day EMA. He notes that while a bounce is expected, there is a possibility of further pullbacks.
Bitcoin is currently trading at $57,855. Altcoin Sherpa emphasizes that Bitcoin’s price action around the 200-day EMA will play a crucial role in determining its future direction.
Moving on to Ethereum (ETH), Altcoin Sherpa highlights that the second-largest cryptocurrency looks promising after bouncing back and reclaiming the 200-day EMA as support. Ethereum is currently trading at $3,126.
In conclusion, Altcoin Sherpa provides valuable insights on the price movements of Dogecoin, Bitcoin, and Ethereum, offering guidance to investors in the crypto market.