Trader Reveals List of Five ‘Strong’ Cryptocurrencies

A widely followed crypto analyst is highlighting five cryptocurrencies that he says are demonstrating strength even with the unstable conditions of the current market. The trader known as Altcoin Sherpa shared his views with his 217,200 followers on social media platform X (formerly Twitter).

Among the cryptocurrencies cited by the analyst are: layer-1 protocol Injective (INJ), cross-chain protocol Wormhole (W), data democratization project JasmyCoin (JASMY), Bitcoin’s layer-2 scalability solution Stacks (STX), and layer-1 blockchain Toncoin (TON).

According to Altcoin Sherpa, these altcoins show promising performance despite the generally range-bound market.

Cryptocurrencies with signs of strength

First of all, the analyst pointed out that Wormhole (W) is one of his top picks. However, he warns that the cryptocurrency could still pull back and stagnate.

“W is one of the strongest coins right now, keep an eye on that if you’re actively trading. I want to buy this on the breakout – if you see a strong pullback, you’re still trading inside that same range and you’re not ready for the big move we all want.”

At the time of writing, Wormhole is priced at $0.54, down more than 13% over the past 24 hours, according to CoinGecko.

In addition, Altcoin Sherpa also highlighted the performance of JasmyCoin (JASMY), stating that the token looks “extremely strong.” According to him, the digital asset is likely to rise to its resistance level before a possible correction.

“JASMY is extremely strong. I have no idea what this thing does, but it didn’t even move today. It honestly looks like it could reach $0.067 before any significant pullback.”

Currently, JASMY is trading at $0.035, down 8% over the past 24 hours.

Additionally, the analyst mentioned layer-1 protocol Injective (INJ) and Bitcoin’s layer-2 scalability solution Stacks (STX) as cryptocurrencies with potential, but did not provide additional details about these altcoins.

Lastly, Altcoin Sherpa mentioned Toncoin (TON) as a layer-1 blockchain that also looks bullish amid the current market scenario. The trader’s analysis highlighted the resilience of these altcoins in a market environment that he considers unfavorable for many other cryptocurrencies.