Crypto Analyst Predicts Breakout for AI-Focused Altcoin, Updates Outlook on Ethereum and Lido DAO

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A widely followed crypto strategist predicts a surge in an AI-focused token while updating his forecasts for Ethereum (ETH) and Lido DAO (LDO).

Pseudonymous Altcoin analyst Sherpa tells his 187,800 Twitter followers that Fetch.ai (FET), a platform that aims to bring artificial intelligence and blockchain together, is showing strength based on its exponential 200-day moving average (EMA).

However, the trader adds that he expects the FET to dip slightly before breaking out.

“FET: Looks strong in the near term, right at the local top. The 200-day EMA turned out to be strong resistance, but I wouldn’t be surprised if we saw a small pullback and then broke through it. The AI ​​narrative could still be ongoing.

Source: Altcoin Sherpa/Twitter

At the time of writing, FET is changing hands for $0.124, up over 15% on the day but still below the Altcoin Sherpa resistance level of $0.131.

Next, the crypto strategist predicts that Ethereum will likely test its EMAs as support, but notes that the smart contract platform’s mid-term moves are unclear.

“ETH: Not really sure, the price is sort of in no man’s land. I think a small move down (i.e. 2% or something) to test some of the EMAs would make sense/make a good short-term entry. The medium-term trend is still unknown.

Source: Altcoin Sherpa/Twitter

At the time of writing, Ethereum is trading at $1,267.

Finally, Altcoin Sherpa says a bullish continuation is in sight for LDO after the liquid staking protocol knocked out its resistance at $1.41.

“LDO: Few different scenarios for LDO. Maybe a step back before breaking this current zone.

If BTC shits the bed, it goes back down too.

Source: Altcoin Sherpa/Twitter

At the time of writing, LDO is changing hands for $1.51, suggesting more than 12% upside potential for the altcoin if it hits Altcoin Sherpa’s target of $1.70.

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Featured Image: Shutterstock/Natalia SiiatovskaiaGenerated Image: Midjourney

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