A crypto trader closely followed by the crypto community predicts major rallies are on the horizon for smart contract platforms Solana (SOL) and Avalanche (AVAX) and two other altcoins.
Known as Altcoin Sherpa in the industry, the trader told his Twitter followers; The latest price hike on smart contract platform Terra (LUNA) Solana’s(LEFT) He said he convinced me it would explode sooner than he expected.
“SOL: I had an idea Solana would move between 130-175 for a while, but given what LUNA just did, I think SOL is going to break out sooner or later.”
According to CoinGecko, SOL is up 24 percent in the past seven days, with a price of $169 at the time of writing.
AVAX Speaking about the company, Sherpa says that despite making some profits at $70, it is still in crypto, expecting a new surge in tier-1 solutions, especially AVAX, with NTFs performing well.
$AVAX: I still have a large bag of this; I took some profits at $70 but have mostly chilled in it the last few weeks. Playing some coins on the #AVAX ecosystem but thats about it. With NFTs doing well, I think L1s have 1 more leg to come. pic.twitter.com/q8UECtShwE
— Altcoin Sherpa (@AltcoinSherpa) October 3, 2021
Next on the analyst’s list is the decentralized exchange, which rose 26 percent to $24.66 last week. dYdX (DYDX) there is. The trader believes that after experiencing a minor pullback, the token could surpass all-time highs.
“We may see a minor pullback from all-time highs but I believe dydX will break all-time highs.”
Digital asset transfer software Ren’s (REN) Looking at the chart, Sherpa states that it has noticed an upward trend with distinct higher high and lower low levels.
“REN: To me, the trend continues to look pretty bullish… A fresh low around $1 could be a good buying opportunity.
At the time of writing, the REN is trading at $1.19, up 4% compared to last week, according to data from CoinGecko.
Altcoin Sherpa ends its chart analysis by looking at crypto industry leader Bitcoin. The trader is targeting $53,000 as a possible breakout level for BTC after the drop to $48,000.
“BTC: I am still incredibly optimistic in the medium term; I think we could see a minor pullback from $53,000 to $48k, but I don’t expect much decline. In my opinion; If we break $53,000, the market structure will be bullish.
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.