Renowned for his accurate market predictions, the crypto analyst known as Altcoin Sherpa has expressed optimism about an altcoin within the Bitcoin (BTC) ecosystem. He suggested that Stacks (STX), which aims to enable smart contracts and decentralized finance (DeFi) on Bitcoin, has further potential for growth.
Altcoin Sherpa highlighted an ideal entry point for STX at around $1.75, emphasizing the coin’s upside. He shared the cryptocurrency’s chart, indicating that STX might retest the $1.73 support level before climbing.
At the time of the report, STX had rebounded from a 24-hour low of $1.68 to trade at $1.90. Moreover, Altcoin Sherpa mentioned Sei Network (SEI), a competitor to Solana (SOL), noting its continued uptrend and expressing a desire to see it consolidate around $0.22, similar to its current retracement to $0.58.
SEI was trading at $0.78, up 17% over the last 24 hours. Additionally, the analyst commented on the meme token Bonk (BONK), suggesting it could soon reach two higher price targets, despite not personally investing in it.
He advised that there might be a good opportunity for a ‘dead cat bounce,’ recommending potential selling points at $0.0000163 and $0.0000180.