dogwifhat

Sherpa

when

MANTRA

As the crypto market struggles to maintain its upward momentum, it has started to lose ground. The leading cryptocurrency, Bitcoin, has fallen to around $56,000, and the altcoin market shows mixed signals. Analysts are not particularly optimistic for September, viewing it as a period of consolidation before a potential rally later. A well-followed analyst recently updated his outlook on three tokens, stating that they are currently on a downward trajectory but may present opportunities soon. 
<h3 id="om-is-strong-but-analyst-expects-a-dip-for-now">OM is Strong, But Analyst Expects a Dip for Now</h3> 
As covered by The Bit Journal, when the market lost its upward momentum, the bears took control, driving the entire market, including Bitcoin, into a downtrend. Amidst this decline, the crypto analyst known as Altcoin Sherpa stated that the RWA Blockchain MANTRA (OM) is a “strong project,” but he expects further downside in the short term. The analyst noted: 
“OM is still trading within the same range and is holding up better than most other altcoins. I still believe in RWA for this cycle, but we’ll see more downside before the next leg up.” 
<img loading="lazy" loading="lazy" decoding="async" class="alignnone size-full wp-image-43742" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/09/Graphic-1.jpg" alt="Altcoin Expert Expects a Drop in These 3 Coins, But Then… = The Bit Journal" width="680" height="370" title="Altcoin Expert Expects a Drop in These 3 Coins, But Then… 49"> 
At the time of writing, OM was trading at $0.91, down 5% on the daily chart. Despite this, the token has experienced a 4000% surge from its low of $0.023 on December 4th. 
<h3 id="altcoin-sherpa-patience-is-key-for-wif">Altcoin Sherpa: Patience is Key for WIF!</h3> 
The analyst then shifts his focus to dogwifhat (WIF), a Solana-based meme coin. Altcoin Sherpa noted that WIF is in a “good” support zone but is unlikely to reach its all-time high anytime soon. He said: 
“I expect to see more consolidation and chop in this area (between $1.44 and $1.96). Patience is the best approach here.” 
When writing, WIF was trading at $1.59, up 6.7% on the daily chart, but still down 67% from its ATH of $4.83 reached in March. 
<img loading="lazy" loading="lazy" decoding="async" class="alignnone size-full wp-image-43743" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/09/Graphic-2.jpg" alt="Altcoin Expert Expects a Drop in These 3 Coins, But Then… = The Bit Journal" width="680" height="370" title="Altcoin Expert Expects a Drop in These 3 Coins, But Then… 50"> 
<h3 id="inj-s-chart-shows-a-never-ending-downtrend">“INJ’s Chart Shows a Never-Ending Downtrend!”</h3> 
Lastly, the analyst reviewed Injective (INJ), a layer-one blockchain. According to Altcoin Sherpa, INJ’s daily chart shows a continuous downtrend with no signs of recovery. He explained: 
“Lower highs across the board. It should bounce somewhere, but I don’t know where the bottom is. I doubt this cycle will see a return to the previous all-time high, but I could be wrong.” 
At the time of writing, INJ was trading at $17.04, up 5.86% on the day&nbsp;but still down 67% from its ATH of $52.62 on March 14th. 
<img loading="lazy" loading="lazy" decoding="async" class="alignnone size-full wp-image-43744" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/09/graphic-3-2.jpg" alt="Altcoin Expert Expects a Drop in These 3 Coins, But Then… = The Bit Journal" width="680" height="370" title="Altcoin Expert Expects a Drop in These 3 Coins, But Then… 51">

Altcoin Expert Expects a Drop in These 3 Coins, But Then…

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The Bit Journal

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