Renowned crypto analyst Altcoin Sherpa has forecasted a potential rise for PepeCoin (PEPECOIN). Speaking to his followers on X, Sherpa highlighted that after a minor correction to a crucial level, PepeCoin may continue its upward trajectory.
What Drives PEPECOIN’s Momentum?
Sherpa emphasized that PEPECOIN is currently exhibiting strong performance. He pointed out that the price might pull back to $2.30, aligning with the 200-day Exponential Moving Average (EMA). He suggested that $2.30 could serve as a favorable entry point for short-term investors and that a rebound from this level is plausible.
“PEPECOIN is doing well right now, showing great strength,” Sherpa commented. “It is still uncertain whether this momentum will continue, but pay attention to the 200-day EMA here. Around $2.30 could be a good entry point in the short term. I made some purchases.”
Is SYN Poised for Growth?
Sherpa also compared Synapse (SYN) protocol’s price chart to that of the Sui Network (SUI). He noted that SYN’s chart is forming a structure similar to SUI’s, suggesting a potential rise. He remarked that several EMAs on the four-hour chart are trending upward, indicating positive momentum for SYN.
However, Sherpa mentioned that SYN lags behind other bridging projects. He hinted that investors might find better alternatives, saying, “SUI has a solid offering and story. In contrast, SYN is a weak bridge, and there are better projects out there. Just looking at the chart, I like SYN, but it might take some time. Other bridge projects are better investments, but this chart is definitely nice; let’s see what happens.”
At the time of writing, SUI is trading at $1.01, marking a 19% rise in the last 24 hours, while SYN trades at $0.61, up 8.6% in the same period.
Key Takeaways for Investors
• PepeCoin could potentially rise after pulling back to $2.30, making it a possible entry point for short-term investment.
• Synapse exhibits signs of upward momentum, similar to Sui Network, but investors should be cautious about its comparative weakness.
• Both PepeCoin and Synapse have shown significant recent gains, pointing to market interest and potential.
In conclusion, Altcoin Sherpa’s analysis provides valuable insights for investors considering PEPECOIN and SYN. While both show promise, the analyst advises caution and a strategic approach to entry points and comparative strength within the market.
