- popular analyst Ethereum (ETH) claimed that a rival altcoin would outperform the vast majority of the crypto market.
A crypto analyst closely followed by the crypto community, Solana’s (LEFT) says it will yield better returns than most crypto assets in the current cycle.
Using the altcoin Sherpa alias, the trader has 178,800 Twitter followers, the popular smart contract platform. Bitcoin (BTC) He shared that it could outperform other altcoins depending on price action.
Koinfinans.com As we mentioned, Altcoin Sherpa says that he is not sure how high Solana can go up, but expects the crypto asset to face resistance around $40. He says that if SOL reaches $50, it will likely fall.
“My plan for this is still the same, I think it goes as low as $40 before it drops a bit. I don’t know how high this is but it is important to understand that this is a bearish market structure. Look for shorts if it goes up to $50 IMO
At the time of writing, the smart contract platform is trading at $38.31
Another crypto asset on the rise of altcoin Sherpa is a 3D blockchain-based metaverse that allows players to purchase land and explore the virtual universe. Decentraland (MANA). The analyst says he is ready to rally after the virtual reality platform hit the bottom.
“I think this looks like it’s bottoming out in the short term, all this space could provide some support/foundation before the big run. I doubt it will completely reverse from here, but some kind of relief will come soon.”
MANA is at $0.90, up over 20 percent from a June low of $0.74.
The analyst is then another metaverse cryptocurrency. ApeCoin (APE) He shares his prediction for Bored Ape Yacht Club says that the altcoin, created for the non-fungible token (NFT) community, may return to the downside after reaching $6.
“Low TFs look neutral, but HTF (higher time frame) is obviously still bearish”
APE, which is trading with an increase of over 3 percent according to CoinGecko data, stands at $ 4.55 at the time of writing.
When it comes to Bitcoin (BTC), the analyst says the outlook is “still a high time frame bearish market structure.” At the time of writing, BTC is changing hands at $21,308, up over 3%.
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.