A crypto strategist who has a large following predicts that a layer-1 altcoin utilizing a hybrid consensus mechanism will experience significant rallies this year.

Altcoin Sherpa, a well-known analyst with over 215,600 followers on the social media platform X, expresses his bullish sentiment towards Core (CORE).

According to Altcoin Sherpa, CORE has demonstrated resilience by recovering most of the losses it incurred earlier this month.

“CORE: The Fibonacci levels have held up remarkably well, and the chart appears very stable. I am holding a bag of this coin and anticipate significant growth in 2024. I wouldn’t personally buy at the current price range of $2.70-$2.90, but instead, I would wait for a dip around $2.20-ish to make a purchase.”

Source: Altcoin Sherpa/X

As of now, CORE is trading at $2.50, marking a remarkable 355% increase from its opening price of $0.549 in 2024.

Altcoin Sherpa is also closely monitoring Near (NEAR), a competitor to Ethereum (ETH). He shares a chart indicating that NEAR will experience a pullback below $6.50 before rallying towards his target of $8.50.

“NEAR: In my opinion, a scenario like this would be favorable.”

Source: Altcoin Sherpa/X

At the time of writing, NEAR is valued at $6.99.

Regarding Fetch.ai (FET), an altcoin focused on artificial intelligence (AI), Altcoin Sherpa predicts that FET will likely revisit its local bottom at $1.80 before undergoing a bullish reversal.

“FET: The initial .50 Fibonacci test is looking promising for now. We’ll see if there is a follow-up or if we experience another test at that level. Truthfully, I believe we will see another test at the $1.80 level at least once more before it takes off. Patience is key.”

Source: Altcoin Sherpa/X

At the time of writing, FET is valued at $2.43.

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