The cryptocurrency market is struggling to gain new momentum. Leading cryptocurrency Bitcoin is taking a breather after rising to $42,000. Major altcoin projects, on the other hand, follow a calm course during the weekend recession. An analyst with a large following is bullish on a low-cap altcoin. However, it points lower for 2 tokens.
Analyst pointed to MANTA, altcoin ATH did!
cryptokoin.comAs you follow from , the market reversed the decline but is struggling to move forward. However, according to analysts, the techniques of some tokens show bullish signs. Popular analyst with the nickname Altcoin Sherpa predicts that crypto project Manta Network (MANTA) will enter an uptrend after turning a key resistance level at $2.77 into support. In this context, the analyst makes the following statement:
MANTA: All-time high will come soon. Newly launched coins + narrative = strong candidates to do really well in this current market environment.
Meanwhile, MANTA was trading at $3.64, up 18.8% in the last 24 hours. By the way, with this move, the token also recorded an ATH level of $ 3.67 today.
Altcoin Sherpa: Be patient for SOL!
The analyst next looks at Ethereum (ETH) rival Solana (SOL). Altcoin Sherpa predicts that SOL will retest lower Fibonacci retracement levels before rising again. The analyst expresses his predictions on this subject as follows:
SOL: I think DCA (dollar cost averaging) at .382 ($84.67) and .50 ($71.81) are good options for long-term holds for Solana. I don’t expect things to accelerate just yet. However, be patient.
Meanwhile, Solana was trading at $92.73, up 1.3% in the last 24 hours. SOL remains in the 1.5% green zone on a weekly basis. The analyst recommends accumulation between 71 and 84 dollars.
Analyst targets this range for FET!
Finally, the analyst focuses on Fetch.ai (FET), a decentralized AI platform for applications. Based on trading volume trends, the analyst warns that FET will drop approximately 20% from its current value. Altcoin Sherpa marks the following levels for FET:
FET: It seems to have hit the bottom in the short term. However, I still believe that this transaction will take place at lower levels, around $0.45-0.55. I hope I’m wrong.
Meanwhile, FET was trading at $0.6158 at the time of writing, up 0.7% over the past 24 hours. The token increased by 1.77% on its weekly chart.
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