Trader Sounds Alarm on Altcoins: Chainlink (LINK) and Others Display ‘Scary’ Behavior
A prominent crypto strategist, known as Altcoin Sherpa, is raising concerns about the altcoin market, particularly noting corrections in projects like Chainlink (LINK).
With a substantial following on X platform. Altcoin Sherpa warns that many altcoins might undergo a months-long consolidation period. He points to Chainlink as a prime example, highlighting its recent correction despite earlier gains. LINK is currently priced at $13.21, down slightly in the past day. Looking ahead, Altcoin Sherpa anticipates strong performance from specific sectors. Including established projects like Ethereum (ETH) and Solana (SOL), as well as AI-related ventures, memecoins, and newer initiatives like Ethena (ENA) and cross-chain messaging protocol Wormhole (W).
He emphasizes the importance of discerning value amidst market volatility and fragmented liquidity, advising attention to robust projects and emerging trends. ENA is trading at $0.9311, while W is at $0.5697, according to the latest data.
Clever Robot News Desk 19th April 2024
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