Trader Issues Warning on Ethereum-Based Altcoin That’s Soared Over 300% in a Month, Updates Outlook on Bitcoin

A widely followed crypto analyst is putting traders on notice regarding one Ethereum (ETH)-based Chainlink (LINK) rival.

The analyst and trader pseudonymously known as Altcoin Sherpa tells his 196,400 followers on the social media platform X that the decentralized oracle protocol Tellor Tributes (TRB) is setting up for a correction after rallying by slightly over 300% from mid-August.

In an attached chart, Altcoin Sherpa appears to be suggesting that Tellor Tributes could first rally toward the high of around $45 reached earlier this month before dropping to under $28.

Tellor Tributes is trading at $38.45 at time of writing.

Turning to Bitcoin (BTC), the pseudonymous trader says that the flagship crypto asset is primed to break above a key resistance level.

Bitcoin is trading at $27,120 at time of writing.

On Bitcoin, crypto analyst Ali Martinez is also expressing a similar sentiment to Altcoin Sherpa. According to Martinez, BTC’s on-chain activity is currently suggesting the early stages of a bull run are underway.