Twitter’s “Cred” shares 2 altcoins that could exhibit sharp and fast price movements in the next crypto recovery.
Cred shared his targets for Solana (SOL) and Avalanche (AVAX)
TechnicalRoundup author, known on Twitter as Cred, in his latest bulletin that Ethereum’s touch of the last $1,900 level indicates a critical low range. writes that it has allowed a new test of it, making it “a good position for ETH for a recovery.” The analyst believes that if the cryptocurrency market continues to decline, Ethereum will find support at $1,000 to $1,400, which is the worst-case scenario. According to Cred, leading layer-1 blockchains like Solana (SOL) and Avalanche (AVAX) could be the fastest risers if the market rises again. In part of the newsletter, Cred says:
These cryptocurrencies are doing well on the ups because investors are conditioned to buy names they know and love when they’re ‘cheap’ at a time when there’s no new altcoin rush…Bitcoin and Ethereum If you prefer, you might as well consider Solana and Avalanche, because if you’re right they’ll probably go higher (and if you’re wrong then nukes).
Altcoin analyst shares a scenario where Solana price predicts $100
In the case of Solana, Cred said SOL price moves between $45 to $79 and the range is low. He sees that if the top is broken, it has significant positive effects. Part of the bulletin says:
Critical zone $44-47 to $79. If the market nukes and supports fail, we foresee a quick drop to the bottom of the range from $25. If the rebound results in a recapture of the range above $79, a move above $100 is very clearly possible.
In the case of Avalanche, the analyst believes the moves will be similar to Solana’s. It presents two possible conditions for a long run on the smart contract platform:
The key difference is that, although Solana/USD continues its retest of support around $44-47, Avalanche is back in the $39 range. As a result, the market needs to either retest the support at $24 or retake the range above $39.
As quoted by Cryptokoin.com, Terra’s reserve altcoin reserves include 1,973,554 AVAX.
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