Altcoins
Trader Says Top 10 Altcoins Look “Insanely Strong” and Updates Outlook on Ethereum, Solana and Render
A widely followed trader and analyst says blue skies are ahead for a large-cap altcoin, even amid a market-wide correction.
The pseudonymous trader known as Altcoin Sherpa tell its 217,300 followers on social media platformTONNE) is strong bullish trend after hitting an all-time high (ATH) of $8.25 on June 14.
“It still seems incredibly strong…
TON: Still one of the strongest charts in crypto. »
Toncoin is trading at $8.10 at the time of writing, up more than 3% in the last 24 hours.
Then the analyst warns than Solana (GROUND) could be on the verge of collapsing against Ethereum (SOL/ETH).
“SOL: While I still think Solana is a great retail chain, the current celebrity meta is not healthy at all in my opinion. I think this chart looks pretty scary and ETH will likely continue to outperform over the next leg.
Source: Altcoin Sherpa/X
SOL/ETH is trading at 0.0409 ETH ($142) at the time of writing, down over 4.6% in the last 24 hours. Looking at his chart, the trader suggests that SOL/ETH could fall as low as 0.039 ETH ($135).
Then the analyst said that the graphics processing unit (GPU) renders the blockchain (RNDR) could retest the Fibonacci retracement level at $6.03.
“RNDR: good project but I wouldn’t start developing it until $7 or less. Could be a good buying area there.
Source: Altcoin Sherpa/X
RNDR is trading at $7.94 at the time of writing, down more than 4% in the last 24 hours.
Finally, the analyst predicted that Ethereum will print new ATHs.
“ETH to ATH is still inevitable. I don’t know when or how it will happen, but this supply zone will eventually break. This still seems like a guarantee and a pretty safe trade you can make (as long as you can absorb the short-term drawdown).
Source: Altcoin Sherpa/X
Ethereum is trading at $3,479 at the time of writing, up slightly over the past 24 hours. ETH reached an ATH of around $4,900 in November 2021.
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