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