Popular crypto trader altcoin Sherpa says that after the withdrawal in the cryptocurrency market, a preliminary phase has begun for the new rally. thinks.
Sherpa is a project related to Graphics Processing Units (GPUs). renderingHe stated that (RNDR) has begun to consolidate as it prepares for an uptrend. According to the analyst, many altcoins have the potential to rise after consolidation in a broader uptrend, as seen in Render’s chart.
As reported by Koinfinans.com, Render is trading at $11.18 at the time of writing, with an increase of approximately 2% in the last 24 hours.
The altcoin expert continued his analysis with the view that Ethereum (ETH) rival Solana (SOL) could fall as low as the 0.382 Fibonacci retracement level before rising.
“Solana: I think this remains a good area to buy and scale. Personally, I would DCA (dollar cost averaging) from here to $140.”
Solana was trading at $189.84 at press time, up more than 4% in the last 24 hours.
Altcoin Sherpa continues his analysis by noting that he is also bullish on RSS3 (RSS3), a decentralized information processing protocol.
“RSS3 is consolidating here in my opinion. I think the next leg will come. Inside this there is personally and a knot. “On the rise.”
RSS3 was trading at $0.523 at the time of writing, up over 8% in the last 24 hours.
Altcoin Sherpa recently noted that layer-1 blockchain Vanar Chain (VANRY) also appears to be in a consolidation phase and could explode within weeks.
“VANRY: its entire move has fibbed and is consolidating right at .382 fib. I honestly want this to continue for a few more weeks; “The longer the breakout, the stronger the next move.”
