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.

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A popular analyst thinks that one top-30 altcoin may be among the best-performing digital assets in the near term as the crypto markets chop around.

The pseudonymous analyst known as Altcoin Sherpa tells his 242,900 followers on the social media platform X that he is leaning bullish on the utility token of the decentralized open financial system Hyperliquid (HYPE).

“Best positions right now in order of best to worst:

1. Cash.
2. Majors.
3. HYPE.
4. Utility or older coins like AAVE, LINK, XRP, OM.

Everything else is pretty mehhh.”

HYPE is trading for $23.27, at time of writing, down 8.8% in the last 24 hours.

Next up, the trader suggests that Ethereum (ETH) may have an explosive move this cycle, but is uncertain when.

“Everyone talking about ETH and it makes a lot of sense:

• Top Trump projects are on ETH ( LINK, AAVE, others).
• SOL is pretty screwed from a mindshare perspective (rugs/etc.).
• No real ETH pump (yet).
• ETH/BTC has been f**ed.

I do believe it’ll happen, just don’t know when/how.”

However, he warns that in the near term, ETH may be forming a bull trap.

“ETH: I’m not going to get trapped on this one.”

ETH is trading for $2,662 at time of writing, down 2.9% in the last 24 hours.

Lastly, the analyst suggests that artificial intelligence (AI)-focused altcoin Artificial Superintelligence Alliance (FET) and AI-related memecoin Act I: The AI Prophecy (ACT) may have reached their market bottoms and may be poised for breakouts

“I think we’re anywhere from one month to two weeks into the consolidation period for most of these shitcoins. This is the chop period where nothing much really happens, but I still feel that most of the good ones are fairly bottomed at this point. FET, ACT are two examples.”

FET is trading for $0.72 at time of writing, down 4% in the last 24 hours. Meanwhile, ACT is trading for $0.18 at time of writing, up 1.3% on the day.

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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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A widely followed crypto analyst says that Ethena (ENA), a synthetic dollar protocol built on Ethereum (ETH), looks primed to continue its red-hot streak.

The pseudonymous analyst known as Altcoin Sherpa tells his 234,500 followers on the social media platform X that ENA is worth investing into when it dips in price as it will outpace most of the market.

“I think that this just continues going higher. My average is still pretty high like $0.92 or something but this one still just outperforms most of the market [in my opinion]. Buy any dips that you can.”

ENA, the 56th-ranked crypto asset by market cap, is up more than 8x in the past three months and is trading at $1.18 at time of writing. It’s also up more than 1% in the past day.

Altcoin Sherpa appears less bullish on the smart contract platform Solana (SOL) over the medium term, especially compared to other top crypto assets, noting that he believes it will be outperformed by the top two digital assets by market cap.

“I think SOL underperforms both ETH and Bitcoin in the coming months. I don’t know what happens long term and I still believe it’s the best casino on earth. But I also have to be rational with it.”

SOL is trading at $217.74 at time of writing. The 6th-ranked crypto asset by market cap is down more than 1% in the past 24 hours.

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