Ethereum

Pepe

Sherpa

Polygon

Avalanche

<p>A popular crypto strategist has predicted a significant drop in altcoins, while also updating their outlook on Pepecoin (PEPE) and Avalanche (AVAX), a rival of the Ethereum (ETH) network. The analyst, known by the pseudonym Sherpa, informed their 195 Twitter followers that altcoins could plummet by up to 50%.</p><div class="thumbnail post-cover-image"><img src="https://www.cointribune.com/app/uploads/2023/05/CTB-Logo-90-1024x683.png" srcset="https://www.cointribune.com/app/uploads/2023/05/CTB-Logo-90-1024x683.png 1024w, https://www.cointribune.com/app/uploads/2023/05/CTB-Logo-90-300x200.png 300w, https://www.cointribune.com/app/uploads/2023/05/CTB-Logo-90-768x512.png 768w, https://www.cointribune.com/app/uploads/2023/05/CTB-Logo-90.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" class="post-cover-image--img" alt="altcoins coins"></div><div class="my-4"></div>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<div class="entry-content-asset"><div class="social-embed-container"><blockquote class="twitter-tweet" data-width="500" data-dnt="true"><p lang="en" dir="ltr">Crypto Analyst Issues Major Altcoin Alert, Updates Outlook on Pepe and Ethereum Rival Avalanche <a href="https://t.co/q0ZMgsqUH3">https://t.co/q0ZMgsqUH3</a></p>— The Daily Hodl (@TheDailyHodl) <a href="https://twitter.com/TheDailyHodl/status/1657536471535079425?ref_src=twsrc%5Etfw">May 14, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div></div>
</div><figcaption class="wp-element-caption">DailyHodl reported on Twitter that a crypto analyst had issued a major altcoin alert. This crypto analyst also updated their outlook on Pepecoin and Avalanche.</figcaption></figure>



<h2 id="h-a-drop-between-30-and-50-for-altcoins">A drop between 30% and 50% for altcoins</h2>



<p>According to <a href="https://twitter.com/AltcoinSherpa/status/1657003424158822401" target="_blank" rel="noreferrer noopener">Sherpa’s analysis</a>, rebounds can be expected in <a href="https://www.cointribune.com/predictions-haussieres-pour-litecoin-et-4-autres-altcoins/" target="_blank" rel="noreferrer noopener">altcoin prices</a> as they surpass key support levels.</p><div class="my-4"><div class="ads ">
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<p>“It’s possible that alts have another 30-50% downside to go from here in the long term. <strong>If that happens, there are going to be bounces in between</strong>. Tbh, prices are currently at support levels, so expecting bounces across the board around here.”</p>



<p>As noted by <a href="https://dailyhodl.com/2023/05/13/popular-crypto-analyst-issues-major-alert-on-altcoins-updates-outlook-on-pepe-and-ethereum-rival-avalanche/" target="_blank" rel="noreferrer noopener">DailyHodl</a>, the trader believes that the memecoin PEPE could experience a short-term rebound after collapsing by approximately 67% from its all-time high.</p>



<p>According to Altcoin Sherpa, a confluence of technical indicators, including Fibonacci retracement levels and the visible range of the volume profile (VPVR), suggests that the memecoin could witness a short-term rally.</p>



<p>“PEPE: I think this is a support area; expecting price to bounce. Fib (Fibonacci) level + higher volume area on VPVR, S/R (support/resistance) level. Not sure how high it goes but let’s see. I still have a PEPE position.”</p>



<h2 id="rebounds-expected-in-avalanche-avax-price">Rebounds expected in Avalanche (AVAX) price</h2>



<p>Sherpa also took an interest in <a href="https://www.cointribune.com/quest-ce-que-la-blockchain-avalanche-avax/" target="_blank" rel="noreferrer noopener">Avalanche</a>, Ethereum’s rival (ETH). The crypto analyst observes that Avalanche has been trading within a wide range between $13 and $21 for most of 2023. He believes that AVAX could rebound once it reaches the lower limit of this range. He stated, “AVAX: Help is on the way soon in the mid $13s.”</p>



<p>Polygon (MATIC), an Ethereum Layer2 Blockchain, also received an analysis from Sherpa. They believe that MATIC could find support at a price level of $0.75.</p>



<p>In summary, Sherpa believes that altcoins will hit bottom before rebounding. This is therefore a call to investors to hold onto <a href="https://www.cointribune.com/7-des-meilleurs-altcoins-a-acheter-en-2023/" target="_blank" rel="noreferrer noopener">their cryptos</a> despite the significant drop. However, no one can say exactly how long this drop will last.</p>

Altcoins: Crypto analyst issues major alert on PEPE and AVAX

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