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Home»ALTCOIN NEWS»The trader predicts one blue chip altcoin will explode by more than 260% this year and updated his outlook for Fetch.ai and Render.
ALTCOIN NEWS

The trader predicts one blue chip altcoin will explode by more than 260% this year and updated his outlook for Fetch.ai and Render.

By Crypto FlexsApril 28, 20242 Mins Read
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The trader predicts one blue chip altcoin will explode by more than 260% this year and updated his outlook for Fetch.ai and Render.
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A closely watched cryptocurrency strategist is predicting an explosive rally for one Ethereum (ETH) rival later this year.

Pseudonymous analyst Altcoin Sherpa says 215,500 followers on social media platform

“SOL: In my opinion, averaging with SOL is never a bad idea. I think it will be over $500 by the end of this year. Anywhere from $130 to $110 would be a gift (I’m not expecting it yet).”

Source: Altcoin Sherpa/X

Looking at the trader’s chart, the key Fibonacci levels he is closely watching for a possible retest are $138 and $116.

At the time of writing, Solana is trading at $136, down 5.54% in the last 24 hours.

Next is the merchant predict Two artificial intelligence (AI)-related projects, Fetch.ai (FET) and Render (RNDR), may revert to lower Fibonacci levels in the near term before starting a major rally.

“If BTC continues with its current bleeding/cutting price action, there will be some good AI coin trading here in the coming weeks/months. I think it would be a good idea to buy something like FET, RNDR. I think it averages out at .50 fib and goes down to .618.”

video
Source: Altcoin Sherpa/X

Looking at his chart, the trader suggests that FET could fall to $1.45.

video
Source: Altcoin Sherpa/X

Looking at his chart, the trader believes that RNDR could fall to its 200-day exponential moving average (EMA) of around $6.

As of this writing, FET is trading at $2.11, down more than 7% in the last 24 hours. Meanwhile, RNDR is trading at $7.95, down more than 7% as of this writing.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may suffer. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

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