A closely followed analyst believes that the crypto markets are primed for a corrective move following strong rallies over the past couple of weeks.

Pseudonymous analyst Altcoin Sherpa tells his 245,200 followers on the social media platform X that he thinks “a dip is going to come soon,” but he doesn’t see any reason to be super bearish once the correction takes place.

According to the analyst, a correction should provide an opportunity for investors to enter the crypto market before another leg up.

Should a marketwide pullback materialize, Altcoin Sherpa says he plans to accumulate five altcoins.

“Coins I want to buy:

BONK ($0.00001600s)
Fartcoin ($0.85)
POPCAT ($0.33)
HYPE ($15-$16s)
GUN ($0.055s)

Loads of others too, but those are on my short list for now.” 

Looking closer at the memecoin Fartcoin, the trader notes that FART needs to stay above $1.05 to witness new rallies. Otherwise, he thinks the altcoin could fall to as low as $0.8.

“Fartcoin: wouldn’t be surprised to see this pullback a little bit here, but don’t forget that hot air rises in the end.

Three different scenarios, all mostly dependent on BTC, frankly. I think this just continues up.” 

Based on the trader’s chart, he seems to suggest that FART can rally to as high as $1.40. At time of writing, FART is worth $1.09.

Turning to fellow memecoin Bonk (BONK), Altcoin Sherpa thinks that the altcoin looks really strong.

“The chart itself still looks fire.” 

At time of writing, BONK is trading for $0.00002, up over 10% on the day.

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