Investors are paying close attention to insights shared by three prominent crypto analysts regarding Litecoin (LTC), Ethereum (ETH), and Fetch.AI (FET). Despite September traditionally posing challenges for altcoins, this month is also seen as a precursor to substantial buying opportunities. Is now the right time for investment?
What’s Next for FET Coin?
Altcoin Sherpa, a well-known crypto analyst, discussed Fetch.AI (FET), an AI-related cryptocurrency that gained traction through partnerships like Bosch and the launch of ChatGPT in November 2022. Sherpa noted that although recent NVIDIA losses and altcoin sell-offs have impacted FET, investors should not be swayed by short-term market noise, maintaining that the overall bearish market structure can still allow for up to 50% gains without signaling a trend reversal.
Is Ethereum Nearing Its Bottom?
Michael Poppe, focusing on Ethereum (ETH), noted that unlike the Bitcoin ETF, ETH didn’t see significant price movement post-launch due to broader market negativity. Poppe pointed out that ETH has recently surpassed the 1000-day downtrend mark since 2021. While he anticipates another dip, he believes the market has nearly reached its bottom.
Daan Crypto Trades analyzed Litecoin (LTC), highlighting its performance compared to other altcoins. Despite expected rebounds not materializing due to BTC’s rapid price drops, LTC remains strong. The analyst noted that if LTC surpasses the high-volume node point in the $70-73 range, significant upward potential could be unlocked, suggesting a patient approach for investors.
Key Takeaways
The analysts’ evaluations provide concrete insights:
- FET Coin can see substantial gains despite a bearish market structure.
- ETH might be close to its bottom after surpassing a long-term downtrend.
- LTC shows strength and potential for significant gains above the $70-73 range.
At the time of writing, BTC’s price was below $54,500, with trading volumes decreasing and sales remaining calm, suggesting a potentially quiet weekend ahead. Investors continue to monitor these insights closely.