The cryptocurrency market has lost its bullish momentum and is on a downward trajectory. However, some tokens continue to show strength. This emphasizes the importance of making good evaluations before making a move. In this context, an analyst with a large following shared his latest predictions amid the market-wide correction. Even in this environment, blue skies are ahead for a large-cap altcoin, the analyst says. However, it warns for some tokens.
Altcoin Sherpa: TON is in a strong uptrend!
cryptokoin.comAs you can see from , the market is having trouble finding direction. The effect of positive news followed by negative news is short-lived. Amidst this uncertainty, cryptocurrencies are losing ground. Despite this, some tokens continue to show strength. One of them, Toncoin (TON), reached its all-time high (ATH) of $8.25 on June 14. The analyst nicknamed Altcoin Sherpa predicts that this will continue. The analyst says TON is in a strong uptrend. In this context, “TON: This still looks incredibly strong (…) Still one of the strongest charts in crypto.” says.
Toncoin, meanwhile, was trading at $8.10 at the time of writing, up nearly 12% in the past week.
“The leading altcoin is preparing to mint new ATHs!”
The analyst then looks at the leading altcoin Ethereum (ETH). Altcoin Sherpa predicts that ETH will mint new ATHs. In this regard, the analyst makes the following statement:
The transition from ETH to ATH is still inevitable. I don’t know when or how it will get there, but this supply zone will break eventually. It’s still a guarantee and seems like a pretty safe trade you can take. But as long as you accept the short-term decline!
Ethereum is trading at $3,479 at the time of writing, with a slight increase over the last 24 hours. ETH reached an ATH of approximately $4,900 in November 2021.
Analyst: SOL/ETH is on the verge of collapse!
Meanwhile, the analyst warns that Solana (SOL) may be on the verge of collapse against Ethereum (SOL/ETH). In this context, the analyst shares the following assessment for SOL:
SOL: While I still think Solana is a great retail blockchain, the current celebrity commodity is not healthy at all in my opinion. I think this chart looks pretty scary and ETH will likely continue to outperform in the coming period.
SOL/ETH was trading at 0.0409 ETH ($142) at the time of writing, down more than 4.6% in the last 24 hours. According to his chart, the analyst suggests that SOL/ETH will drop as low as 0.039 ETH ($135).
“RNDR is on track to test $6.03!”
Finally, the analyst discusses graphics processing unit (GPU) rendering Blockchain Render (RNDR). Altcoin Sherpa predicts that RNDR will retest the Fibonacci retracement level at $6.03. The analyst said, “RNDR: Good project but I wouldn’t start buying until $7 or below. “There might be a good buying area there.” says.
Meanwhile, RNDR was trading at $8.12 at the time of writing, down more than 1% in the last 24 hours.
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