Altcoin Sherpa, one of the closely followed cryptocurrency analysts, shared the altcoin projects in his focus. The analyst explained his analysis of Solana (SOL), DAO Maker (DAO), and Near Protocol (NEAR). Here are the details…
SOL from Altcoin Sherpa, DAO comment
Altcoin Sherpa says Ethereum (ETH) rival Solana (SOL) and a low-value cryptocurrency are starting to show signs of bottoming out. The analyst told his 173,100 Twitter followers that Solana appears to be undervaluing as it continues to hold the $100 support, and used the following statements:
LEFT: It is showing some bottom signs for now. Used a daily close at the top of the fib and these levels were respected. More cuts around $100 and EMAs (exponential moving averages) are expected to catch up before a rally.
Another altcoin on the investor’s radar has been DAO Maker (DAO), a launchpad that provides software-as-a-service (SaaS) solutions to crypto startups. According to altcoin Sherpa, the DAO is preparing for an exit as it forms a round bottom pattern on the daily chart. The analyst uses the following phrases:
DAO: I feel quite strongly that this coin will go to mid-$3-4 when it starts to explode. I think the round line in this chart looks great. Not a very good active trade, just considering the DCA/hodl [dollar cost average/HODL] ratio, it could sell out in a few weeks.
What to expect for NEAR?
The cryptocurrency analyst also provides an update on Ethereum competitor Near Protocol (NEAR). Altcoin Sherpa says it’s only a matter of time before NEAR hits all-time highs, using the following statements:
NEAR: I think it’s only a matter of time before this coin breaks all-time highs. I am still in my position. As
Kriptokoin.com, NEAR Protocol is designed as a community-run cloud computing platform and is designed to compete with blockchain technologies such as slow transaction speeds, poor throughput, and poor interoperability. It is the first layer (layer-1) Blockchain, which removes some of the limitations that block the future.
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