The cryptocurrency market started the week with a sharp decline. However, it started to show an upward trend again. In this environment, one crypto analyst with a large following is predicting further rallies for smart contract protocol Avalanche (AVAX) and artificial intelligence (AI)-focused altcoin Fetch.ai (FET). In addition, the analyst explains his expectations for BEAM.
Analyst predicts AVAX rally will continue
cryptokoin.comAs you can follow from , some tokens stand out in the market. One of these was Avalanche (AVAX), which undoubtedly attracted attention with its strong rise. However, AVAX’s rally has been interrupted in recent days. However, a popular analyst with the nickname Altcoin Sherpa says Avalanche’s rally is not over yet. The analyst shares a chart showing AVAX breaking the $39 resistance on the weekly chart. Based on this, the analyst makes the following assessment:
AVAX: I don’t know why this is moving so hard. But it’s pretty incredible to see this in the midst of all the new layer-1s/layer-2s available. AVAX outperformed most of the shiny new blockchains during this study. I think $55 and $60 are next.
Meanwhile, at the time of writing, AVAX was trading at $39.31, down 0.93% on the day. It was worth it. However, AVAX recorded a gain of over 802% on its monthly chart.
Analyst predicts a rally to $0.90 for FET
Altcoin Sherpa next looks to decentralized machine learning network Fetch.ai. The analyst says FET is also on the rise. According to the analyst, FET has the potential to rise over 40% from current prices. In this regard, the analyst makes the following statement:
FET: the current level is interesting but I still won’t buy here. I’m honestly still looking for my main AI game for this cycle. I have other bags and narratives but not this one (yet). To be honest, $0.90 seems likely in the medium term.
Meanwhile, at the time of writing, FET was trading at $0.72 to the dollar, up 8.8% on a daily basis. Therefore, the token seems to be moving towards the analyst’s target.
Altcoin Sherpa prefers to wait for BEAM for now!
The last altcoin on the analyst’s radar is the native asset of Blockchain-based gaming network Beam (BEAM). Altcoin Sherpa says he is waiting for BEAM to fall a little more before showing interest in the altcoin. In this context, the analyst shares the following assessment:
BEAM: A nice retreat for those looking to get in soon. I think BEAM is a great index for Web3 games in general. I have a bag and will keep it for a while. I think the $0.016 area is interesting….the 0.50 Fibonacci level is your entire move. I’ll be looking there.
Meanwhile, at the time of writing, BEAM was trading at $0.0893, up 2.5% on a daily basis. In addition, the token gained 104% in value on its monthly chart.
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