A popular crypto analyst predicts that an Ethereum (ETH) rival will rise to triple digits in 2024. The analyst, nicknamed Altcoin Sherpa, told his 198,500 followers on the social media platform solana (SOL) will increase by at least 72% from its current value next year says.
SOL, LINK and BLUR Predictions
“LEFT: I honestly hope it’s a little lower. “Under $50 would be a great entry, but this will go into triple digits next year.”
Using Fibonacci retracement levels, the trader says Solana could drop to $48.79 or $42.80 before the big swing.
Solana is trading at $57.47 at press time, up 6% in the last 24 hours.
Then, decentralized oracle provider ChainlinkHe says that (LINK) may drop to $11.15 or $12, which are Fibonacci levels.
“LINK: I still want $11,15 and $12. I’m waiting with patience. Today’s movements are good, but there is no major MS (market structure) change yet.”
Chainlink is trading at $14.29 at the time of writing, up 1.3% in the last 24 hours.
Next up, the trader says the native presence of non-fungible token (NFT) market Blur (BLUR) may soon challenge higher resistance levels.
“BLUR: zoom in, I think $0.60 and $0.75 are possibilities in this current run. “It’s an incredible power.”
BLUR is trading at $0.50 at the time of writing, up 3.5% in the last 24 hours.
Finally, the trader predicts a generally flat trading environment for the broader crypto market, at least for now.
“BTC: nothing has changed. There have been some good movements today, but I don’t think we’ve seen a major market structure change yet.
“Good moves for some altcoins, but we still expect a lot of decline for the majority.”
He also says that Bitcoin (BTC) will likely break out soon and outperform altcoins.
“BTC: price action is pretty boring. I still don’t see this as a great trading environment for most people. I expect more declines followed by a decent sized move. “Still, I expect altcoins to underperform Bitcoin during this period.”
Bitcoin is trading at $37,109 at press time, up 1.8% in the last 24 hours.