After the sharp decline in the last days, some altcoins took the reed. HEART, TRX, EGLD, UNI and SOL gained over 20% today. Meanwhile, a popular altcoin analyst is updating his forecasts to set price targets for the 4 coins.
Altcoin Sherpa expects a decrease in these altcoins
Popular crypto analyst nicknamed Altcoin Sherpa, whose analysis we share as Kriptokoin.com, has updated its ETH price predictions after the last sales. The analyst says that he watches the leading altcoin with one-week candles. Accordingly, he was informed that the area of $500 to $800 is a possibility if ETH maintains $1,000. In her most recent tweets, Sherpa mentioned
Here are the 1-week goals. For obvious reasons, I believe $1,000 is a reliable short-term bottom. The next level is $800 and if things go bad it’ll be $500.
Ethereum is down slightly on the day to trade at $1,112.91. However, it has lost almost 40% of its value since last week. This week, ETH price touched the critical support of $1,000 at one point. Sherpa says that if it breaks this level, Ethereum will see $ 500.
The next altcoin was Solana, one of the top losers
Solana couldn’t escape the sell-off with the latest network outages in May and June. The cuts caused panic among investors. Thus, the 9th cryptocurrency by market cap has deepened over 90% from the ATH price. The analyst, who moved to Solana after Ethereum, predicts that SOL will fall below $20, but may soon recoup some of his losses. Marking the critical support levels in the chart below, the analyst says:
I think the current zone is a solid buy zone for a minor recovery; I wouldn’t be overconfident and would think it was the ‘bottom’. If the market continues to decline, the bottom is likely around $20.
Solana is currently up over 5% compared to yesterday. It is trading for just over $30 at the time of writing. Altcoin Sherpa later shares that it follows Avalanche closely.
Note these levels in AVAX
Altcoin Sherpa is evaluating Avalanche and predicts it will eventually see $10. The analyst points out that a price below $5 will mean “things are really bad.” For AVAX, Sherpa says
In the long run, I predict it could eventually drop to $10.
Avalanche is currently trading at $16.02. It has lost 35% of its value since last week.
Ethereum rival NEAR ranks last on the analyst’s list. Sherpa believes the bottom could be around $2.50. It also warns that additional market capitulation could push the NEAR price below $2.
Sharing the chart above, the analyst comments:
We may see a reversal before then, but a $2.50 target in the medium term. If things go bad, I’m looking for under $2.
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