A popular analyst thinks that one top-30 altcoin may be among the best-performing digital assets in the near term as the crypto markets chop around.<\/p>\n
The pseudonymous analyst known as Altcoin Sherpa tells<\/a> his 242,900 followers on the social media platform X that he is leaning bullish on the utility token of the decentralized open financial system Hyperliquid (HYPE<\/a>).<\/p>\n \u201cBest positions right now in order of best to worst:<\/em><\/p>\n Everything else is pretty mehhh.\u201d<\/em><\/p>\n HYPE is trading for $23.27, at time of writing, down 8.8% in the last 24 hours.<\/p>\n Next up, the trader suggests<\/a> that Ethereum (ETH<\/a>) may have an explosive move this cycle, but is uncertain when.<\/p>\n \u201cEveryone talking about ETH and it makes a lot of sense:<\/em><\/p>\n I do believe it\u2019ll happen, just don\u2019t know when\/how.\u201d<\/em><\/p>\n However, he warns<\/a> that in the near term, ETH may be forming a bull trap.<\/p>\n \u201cETH: I\u2019m not going to get trapped on this one.\u201d<\/em><\/p>\n ETH is trading for $2,662 at time of writing, down 2.9% in the last 24 hours.<\/p>\n Lastly, the analyst suggests<\/a> that artificial intelligence (AI)-focused altcoin Artificial Superintelligence Alliance (FET<\/a>) and AI-related memecoin Act I: The AI Prophecy (ACT<\/a>) may have reached their market bottoms and may be poised for breakouts<\/p>\n \u201cI think we\u2019re anywhere from one month to two weeks into the consolidation period for most of these shitcoins. This is the chop period where nothing much really happens, but I still feel that most of the good ones are fairly bottomed at this point. FET, ACT are two examples.\u201d <\/em><\/p>\n FET is trading for $0.72 at time of writing, down 4% in the last 24 hours. Meanwhile, ACT is trading for $0.18 at time of writing, up 1.3% on the day.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n\n
\n
\n
\nCheck Price Action<\/a><\/span><\/em>
\n
\nFollow us on X<\/a>, Facebook<\/a> and Telegram<\/a><\/span><\/em>
\n
\nSurf The Daily Hodl Mix<\/a><\/span><\/em>
\n<\/p>\n
\n![](\"https:\/\/dailyhodl.com\/wp-content\/uploads\/2018\/06\/Get-Alerts-728x90.png\")
<\/center><\/p>\nDisclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n
![\"Image\"](\"https:\/\/pbs.twimg.com\/media\/Gj_1mdfXcAAf0Rq?format=jpg&name=medium\")
![\"Image\"](\"https:\/\/pbs.twimg.com\/media\/Gj_0_RBXoAAr3Lg?format=jpg&name=4096x4096\")
![\"Image\"](\"https:\/\/pbs.twimg.com\/media\/Gj_0_RAXwAA-R9L?format=jpg&name=4096x4096\")