A well-known crypto strategist has just updated his thoughts on Bitcoin (BTC) and one Ethereum (ETH) competitor, as he issued some warnings about the 'memecoins' in the markets. Altcoin Sherpa gave his 195,100 Twitter followers an insight on Bitcoin's sideways trading pattern in the $25,000 to $30,000 range, which has been repeating itself since mid-February.

He delved into the new blockchain Sui Network (SUI), which he expects to revisit range lows at around $1.29. However, he added that a potential dip in Bitcoin could mean lower prices of around $1.24 for SUI.

The strategist showed concern for the meteoric rise of Pepe (PEPE), coined as a 'memecoin' suggesting that such tokens are likely on course for collapse in the coming weeks. Turning his focus to layer-2 scaling solution Arbitrum (ARB), he suggests that prices could dip further in the region of $1.15 to $1.20 due to the mania surrounding SUI and PEPE.

Analysts often use Exponential Moving Averages (EMAs) and Fibonacci retracement levels to determine how an asset will be trending. They look at the EMA to check if the price is bearish, with the price below being indicative of that.

As far as the crypto landscape is concerned, Altcoin Sherpa's chart analysis is somewhat favorable for Bitcoin but bearish on the prices of Altcoins. He affirms the importance of understanding market trends, particularly when trading during a time of sideways movement, and advises on taking caution when investing in so-called 'memecoins'.



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