Ethereum

Sherpa

Avalanche

Tellor

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 An altcoin running on the Ethereum (ETH) blockchain looks poised to give up a significant part of its massive gains in the last two months, according to a widely followed analyst.
 Pseudonymous analyst Altcoin Sherpa tells his 196,800 followers on the social media platform X that the native asset of the decentralized oracle Tellor Tributes (TRB) has likely ended its multi-month uptrend.
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 TRB, which rallied from a low of $9.11 in mid-August to a high of $79 last week, appears to have exhausted all bullish momentum, according to the trader.
 “TRB: I think that was the blow-off top. Expecting this to eventually die and grind all the way back down.”&nbsp;
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F8hLpkzWUAAbTcN?format=jpg&amp;name=4096x4096" alt="Image" width="2475" height="1221">
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 Source: Altcoin Sherpa/X
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 Looking at the trader’s chart, he seems to predict that TRB will plummet all the way down to $32.
 At time of writing, TRB is trading for $59.68.
 The crypto strategist is also keeping a close watch on the price action of Ethereum rival Avalanche (AVAX). According to the analyst, AVAX may rally on the back of news that the Avalanche-based social finance (SocialFi) protocol Stars Arena is once again live after succumbing to a massive security breach last week.
 “AVAX: long the Arena
 Stars Arena coming back online + this entire area looks like a solid support region. Short-term bullish.”&nbsp;
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F8hddCiXIAAmTh_?format=jpg&amp;name=4096x4096" alt="Image" width="2475" height="1221">
 <figcaption class="wp-caption-text">
 Source: Altcoin Sherpa/X
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 Based on the trader’s chart, he appears to predict that AVAX will rally toward the $10.60 level.
 At time of writing, AVAX is trading for $9.39.
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ethereum-based-altcoin-that-s-up-700-in-two-months-primed-to-grind-all-the-way-back-down-says-crypto-analyst-tbt66787.html">https://thebittimes.com/ethereum-based-altcoin-that-s-up-700-in-two-months-primed-to-grind-all-the-way-back-down-says-crypto-analyst-tbt66787.html</a>

Ethereum-Based Altcoin That’s Up 700% in Two Months Primed To Grind All the Way Back Down, Says Crypto Analyst

TheBitTimes

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