A Promising Altcoin in the Solana Ecosystem: Grass (GRASS)
A well-known cryptocurrency analyst and trader, going by the pseudonym Altcoin Sherpa, has expressed optimism towards an altcoin operating within the Solana (SOL) ecosystem. Altcoin Sherpa recently shared insights with his 243,700 followers on X, highlighting the strength of Grass (GRASS), the utility token of the decentralized bandwidth crypto project.
Following a remarkable 25% rally in just one day, Altcoin Sherpa noted that GRASS demonstrated resilience by reversing a previous downtrend experienced during a broader crypto market slump.
According to the analyst, GRASS is poised for a potential pullback before embarking on another rally. Altcoin Sherpa’s analysis on the four-hour time frame suggests that GRASS could see a correction of approximately 15% before staging a comeback with a surge of over 20% within a few days.
As of the time of writing, GRASS is trading at $1.89 per token.
Altcoin Sherpa also shared his perspective on the overall altcoin market, indicating that a bottoming-out phase may precede a period of consolidation lasting up to two months. The trader anticipates significant price movements in the early summer months, particularly in May and June.
“Wouldn’t be surprised to see another month or two of chop. That doesn’t mean we’re not going to see big moves up or down, we already have. But the real meat of this move comes in the early parts of the summer, in my opinion, guessing May/June.”
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