A crypto trader, smart contract platform closely followed by the crypto community Avalanche (AVAX) and two other altcoins, he also says that Ethereum (ETH), the world’s second largest cryptocurrency, has bottomed out.
Known by the nickname Altcoin Sherpa on Crypto Twitter, the trader has 128,000 followers on Twitter; He said he has his eye on AVAX and although crypto has risen nearly 2,300 percent since December, it still sees a 40 percent increase on the horizon.
“AVAX: Still one of his biggest investments, the market structure is still bullish as far as I can see.
The target in the coming weeks is still $100. We’ll have to wait and see if the L1s (Layer1) will continue, though. ”
Ranked on Trader’s list; There is the WOO Network (WOO), a liquidity network that aims to connect traders, exchanges and other assets in the crypto space with “democratized liquidity”.
WOO has already gained over 45% in the last 24 hours at the time of writing, but Altcoin Sherpa believes that a rally of around 25% in WOO’s current price is still a reasonable expectation.
“WOO: I’m investing in this long term, I will continue HODLing. If it breaks clearly here, I’m aiming for around $1.”
The third crypto on altcoin Sherpa’s radar is the open-source decentralized blockchain protocol Tezos (XTZ). According to the trader, Tezos is likely to break the resistance near $8.00 in a bid to hit all-time highs in the coming months.
“XTZ: There is still resistance, but (as long as bitcoin holds up) I believe a breakout is possible.”
As for Ethereum, the crypto trader said that ETH could drop to reach the 200-day exponential moving average (EMA), which is currently around $2570, but will face little resistance later on.
“ETH: I believe the short-term bottom has been reached. Maybe a touch to the 200D EMA will occur, but then I expect it to go up.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.