The popular cryptocurrency analyst and strategist thinks bottoms could be imminent for Ethereum rival Solana (SOL), Axie Infinity (AXS) and a low-value altcoin.
The analyst, known under the pseudonym Sherpa, shared on his Twitter account. Left (LEFT) and he thinks that blockchain-based gaming platform Axie Infinity (AXS) is close to making a comeback for a potential uptrend after going through several months of downtrend.
“AXS SOL: I think coins that were already bearish in November are closer to their bottoms than altcoins that rose sharply in January. Altcoins like AXS and SOL are at the bottom than something like NEAR.”
At the time of news, Solana is trading at $85.40, down 5.07% in the last 24 hours. Axie Infinity is currently worth $48.13.
The crypto strategist also revealed that he is closely following the non-tradable token (NFT) marketplace LookRare (LOOKS). According to Altcoin Sherpa, LookRare (LOOKS) He thinks it could potentially drop to $1 after losing more than 85% of its value in a month.
LOOKS at the time of writing, Altcoin SherpaIt is trading at $1.02, just above the $1.00 support.
Altcoin Sherpa believes the bottom is near for these three altcoins, while Ethereum scaling solution Polygon (MATIC) says it faces downside risks.
“MATIC: It wouldn’t be surprising to see that eventually drop to $1.”
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.