Although the cryptocurrency market has recovered from the recent decline, it is struggling to go any further. Leading crypto Bitcoin is struggling at $65,000. However, JPMorgan warns of further declines. Solana, who has attracted attention with his performance lately, has also lost his speed. However, one analyst with a large following remains bullish on its Ethereum rival despite the correction. The analyst also names 3 altcoins with a bullish outlook.
“Solana still has incredible upside potential!”
cryptokoin.comAs you follow from , the market is progressing in the red zone, with exceptions. However, analysts expect upward movements for some tokens. An analyst with the pseudonym Altcoin Sherpa says Solana (SOL) is showing strength after retesting the Fibonacci retracement level at $165. In this context, the analyst makes the following statement:
LEFT: Good initial reaction to the $165 level. To decide whether this is the bottom or not; Frankly I hope we see more play of this level/another test. Yet there is still incredibly bullish on this in 2024.
In his previous predictions, the analyst predicted that SOL would reach an all-time high this year. Meanwhile, Solana was trading at $176 at the time of writing, down nearly 7% on a daily basis.
Altcoin Sherpa: It’s a good time to accumulate RNDR!
Next, the analyst looks at Render (RNDR), a crypto project designed to provide a decentralized market for Graphics Processing Units (GPUs). Altcoin Sherpa says RNDR could fall more than 17% from its current value before exploding again. In this regard, the analyst said, “RNDR: I think it is a good time to accumulate RNDR for the next rise. Personally, I would scale it up to $9 from here.”
Render, meanwhile, was trading at $10.96 at the time of writing, down nearly 2% on its daily chart.
“FTM is in a good position to buy!”
The analyst is also bullish on Ethereum challenger Fantom (FTM) after it bounced from $0.91. Altcoin Sherpa: “FTM: probably in a good position to buy here. “It still looks like a pretty strong chart.” says.
Meanwhile, Fantom was trading at $1.16 at the time of writing, up 9.5% on a daily basis.
Altcoin Sherpa BEAM has a lot of upside potential!
Finally, the analyst discusses Blockchain-based gaming network Beam (BEAM). The analyst says there is a lot of upside potential for BEAM. In this context, Altcoin Sherpa said, “BEAM: still a buy and hold for me. I didn’t add anything to the last piece. However, I still hold a lump sum position. “There is an upside in this stock until 2024 and I am holding it.” says.
According to its chart, the analyst suggests that Beam may soon surpass $0.036 on the upside and move towards $0.40. Meanwhile, Beam was trading at $0.0334 at the time of writing, down more than 4.5% on its daily chart.
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