Altcoin
Will these altcoins surpass all-time highs soon? Top analysts say Solana will reach $900
At Crypto Banter’s “The Sniper Trading Show”.‘ the analyst explained that understanding where to take profits is crucial because not all tokens will reach all-time highs. For example, Bitcoin started with increased dominance, outperforming many tokens. As the market moves from Bitcoin hype to Ethereum and then to altcoins, retail investors play an important role. Millions of small investors can generate extreme hype.
The analyst said that the big weekly altcoins that are likely to break out of all-time highs are Solana (SOL), Avalanche (AVAX), Injective (INJ), ThorChain (RUNE), and Dogecoin (DOGE). For Solana, the goals are $400, $650 and $900. The trend indicates strong upward momentum with the potential to reach these levels without pullbacks.
Avalanche initially has a target of $100, with a possible move to $240 if it breaks above key resistance levels. It is important to take profits at these stages if it shows signs of slowing down.
Injective’s targets range from $40 to $50, with previous highs of $70 and $93 representing the next targets. Once again, it is recommended to take profits when approaching these levels. ThorChain is expected to reach $14, with further targets at $33, $53, and $73 if it manages to break above the resistance.
Dogecoin may not reach its all-time highs this cycle, but it is considered a good investment at current levels, with a potential gain of around 200%. Profits should be taken if it approaches key resistance levels to avoid losses if it does not break through.
Furthermore, the analyst explained that it is important to judge tokens based on bear markets, where their true value is revealed once the hype has faded. Tokens often fall 80-90% in bear markets, indicating their true valuation. Therefore, taking profits during market peaks is essential to avoid losses when the market corrects.