A well-known crypto analyst has predicted what will happen to Ethereum competitors Solana (SOL) and Avalanche (AVAX) and also an under-the-radar cryptocurrency.
Altcoin Sherpa, an anonymous expert, informs its 178,300 Twitter followers that smart contract network Solana may be nearing a regional bottom after falling 90% in price from its all-time record.
Solana has peaked at 90% of its value. Sherpa quotes that if we’re looking for an alternative Layer 1, first of all, it’s not a bad place to go for a long-term accumulation. Next adds that, to be honest, it’s one of the best options, provided it’s a non-Ethereum virtual machine.
In view of the short time frame, according to the strategist, that seems to be enough. If BTC price behaves well, $45 could arrive in the medium term.
Next on the list of strategists is Avalanche, a similar smart contract system that altcoin Sherpa says is primed for a recovery rally with forecasts of $22 and $28.
On Avalanche, the analyst claims that AVAX isn’t a bad idea to try to save money, but it never reached its $12 goal. He says his view is that a bearish repeat is likely, but the macro bottom is not yet in.
The utility currency of Ethereum-based NFT marketplace LooskRare (LOOKS) is the last currency on the investor’s mind. According to altcoin Sherpa, LOOKS is bullish in the near-term after breaking its initial barrier at $0.30.
The analyst concludes his prediction by claiming lol LOOK seems like a good deal. According to Sherpa, this should be studied long-term in a downturn.
In addition, the market system is still quite negative, says the expert, but that shows a lot of courage.