Altcoin
Two will fly and two will crash!
THE cryptocurrency the market has lost its bullish momentum and is on a bearish trajectory. However, some tokens continue to show strength. This highlights the importance of good judgment before making a move. Against this backdrop, an analyst with a large following has shared his latest predictions amid the market-wide correction. The analyst says that even in this context, clear skies lie ahead for a large-cap altcoin. He warns, however, for some tokens.
Altcoin Sherpa: TON is in strong uptrend!
As you followed Cryptokoin.com, the market is struggling to find direction. The impact of positive news is followed by a short period of negative news. In this uncertainty, cryptocurrencies are losing share. Despite this, some tokens continue to show strength. One of them, Toncoin (TON), reached an all-time high (ATH) of $8.25 on June 14. The analyst, nicknamed Altcoin Sherpa, predicts more to come. The analyst says TON is in a strong uptrend. In this context, “TON: still looks incredibly strong (…) It is still one of the strongest charts in the cryptocurrency sector.”
Source: Altcoin Sherpa
Toncoinmeanwhile, it was trading at $8.10 at the time of writing, up nearly 12% over the past week.
“Major altcoins prepare to mint new ATHs!”
The analyst then looks at the leading altcoin Ethereum (ETH). Altcoin Sherpa predicts ETH will mint new ATHs. As a result, the analyst makes the following statement:
The transition to ATH in ET it is still inevitable. I don’t know when and how it will get there, but this supply zone will break sooner or later. It’s still a guarantee and seems like a pretty safe trade you can take. However, as long as you accept the short-term decline!
Ethereum is trading at $3,479 as of this writing, up slightly over the past 24 hours. ETH reached an ATH of around $4,900 in November 2021.
Analyst: SOL/ETH on the verge of collapse!
Meanwhile the analyst warns Solana (SOL) may be on the verge of collapse against Ethereum (SOL/ETH). In this context, the analyst shares the following assessment for SOL:
SOL: Although I still think Solana is a great selling point Blockchain, in my opinion the current celebrity destination is not healthy at all. I think this chart is pretty scary and that ETH will likely continue to outperform in the coming period.
SOL/ETH was trading at 0.0409 ETH ($142) at the time of writing, down more than 4.6% over the past 24 hours. According to his chart, the analyst suggests that SOL/ETH will drop to 0.039 ETH ($135).
“RNDR is about to test $6.03!”
Finally, the analyst discusses the graphics processing unit (GPU) that makes blockchain Render (RNDR). Altcoin Sherpa predicts this RNDR will retest the Fibonacci retracement level at $6.03. The analyst said: “RNDR: It’s a good call, but I wouldn’t start buying until $7 or lower. There could be a good buying area there.”
In the meantime, RNDR at the time of writing this article it was trading at $8.12, down more than 1% in the last 24 hours.
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