A Crypto Analyst Bullish on Meme Token Bonk (BONK) and Low-Cap Altcoin Alchemist AI (ALCH)
A popular crypto analyst, known as Altcoin Sherpa, has shared his bullish outlook on one meme token and a low-cap altcoin operating on the Solana (SOL) blockchain. With a following of over 243,800 on X, the analyst believes that both Bonk (BONK) and Alchemist AI (ALCH) are showing signs of potential market recovery.
Bullish on Bonk (BONK)
Altcoin Sherpa is optimistic about the memecoin Bonk (BONK) and has charted a potential path for the token. He suggests that BONK may encounter resistance at the $0.000012 level before forming a bullish higher low pattern and pushing towards a target above $0.0000145. The analyst notes that despite a possible pullback around the 200 EMA on the four-hour chart, he sees the current dip as a reasonable buying opportunity.
As of the latest update, BONK is valued at $0.00001376.
Alchemist AI (ALCH) on the Radar
Altcoin Sherpa also highlights the potential of Alchemist AI (ALCH), an AI-based crypto project that simplifies code generation for users without coding skills. The analyst observes an uptrend in ALCH and mentions that he is looking to accumulate the asset on potential dips. Comparing ALCH to the volatile AI coin ARC, he sees ALCH as a strong contender in the market.
Currently, ALCH ranks as the 431st largest crypto asset by market cap, trading at $0.109.
Bitcoin Consolidation Expected
Altcoin Sherpa also shares his insights on Bitcoin, predicting a consolidation phase within a wide trading range of $70,000 to $90,000 in the short to mid-term. While he believes that the relative bottom for Bitcoin is likely in place, he anticipates further consolidation before any significant upward movement.
At the time of writing, Bitcoin is trading at $85,366.
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