The cryptocurrency market fell sharply after surprisingly high inflation data from the US. SOL, AVAX, and LINK are down over 5%. However, amid this uncertainty, a popular cryptocurrency analyst is updating his forecasts for Solana (SOL), Avalanche (AVAX), Chainlink (LINK), and ApeCoin (APE).
Altcoin Sherpa raises the bar for AVAX and SOL
Altcoin Sherpa, whose analysis we share as Kriptokoin.com, has updated its price predictions for SOL, APE, AVAX and LINK. In his recent analysis, he predicts that Solana will regain its ATH level, but for now it may rise 25% from its current price. Sharing the chart below, the analyst says:
I think we’ll see something like this; A jump to $50 followed by a rejection at the 200 EMA 4 hours. I don’t think it’s ready to explode yet.
Solana is trading at $37 at the time of writing. However, it has lost 7% in the last 24 hours. The 9th largest cryptocurrency by market cap has been in a downtrend for a while. We saw SOL reach $260.06 in November 2021.
AVAX can reach $40, here’s the roadmap
Avalanche (AVAX), one of the strongest Ethereum competitors, has been on the decline for a while like Solana. Sherpa predicts that the AVAX price will reach $40 before falling to $12. He interprets the chart below as follows:
Maybe a slight upward move ($40) and then further down ($12)? Hard to say…
As Chainlink’s price rises, Altcoin Sherpa predicts LINK will break the uptrend around $11. The price of the decentralized oracle network is currently $ 9.33. For short-term price movements, the analyst shares the following levels:
LINK actually looks good in the short term. I still believe this will be a drop test. But maybe we have some more upside momentum before more downsides.
Analyst shared two ideal levels for Apecoin
In the case of ApeCoin, the analyst said that when the Bored Ape Yacht Club-backed token rises above $7, it will see a correction. believes it would be wise to take a position at around $5. APE is currently trading at $5.72. Sherpa tweeted:
Drops should be bought at $5. $7 is good for a possible short position.
The crypto expert is also updating his predictions for Bitcoin (BTC), which is currently trading well below the ATH level. Bitcoin is currently trading at $29,113.88. Although the analyst expects support at 30 thousand dollars, he states that he is not sure about this:
I still believe that it will rise from 30 thousand dollars first. But I’m open to the possibility of this reaching the lower ranges. To be honest, I’m not sure.
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