As the markets rebound after a tough few months, a prominent crypto analyst is updating his technical levels for AVAX and 4 altcoins.
What levels are next for Solana according to altcoin Sherpa?
The Twitter analyst, nicknamed the altcoin Sherpa, tells his 180,400 followers that while he expects Solana to rise to around $60 as long as Bitcoin remains stable, there is some uncertainty over the long term. According to the analyst, Solana offers good opportunities at current levels. Sharing the graphic below, Sherpa conveys his expectations as follows:
Although I predict the price will reach $60 if BTC stays strong, I still believe the overall trend is negative. In my opinion if you are looking for a macro reversal pattern you will probably get a much better entry later than the current price. Right now is still a great time to take a position.
Solana price had a strong week, rising from $34 to almost $47. At the time of writing, it is trading at $42.65, +12.25% from last week. If Sherpa’s expectation of $60 is consistent, it will mean a 40% gain from the current level.
Altcoin Sherpa shares scenario that will move Bitcoin to $28,000
The analyst then looks at the 4-hour candles for Bitcoin’s exponential moving average (EMA). The current bear market suggests the idea that Bitcoin could climb to $28,000 before falling. In the words of Sherpa:
For the first time since March, all four-hour EMAs are bullish. That’s probably up to $20,000, or $28,000 I think, before dumping. Note that the market is currently in a bearish phase.
As you follow on Kriptokoin.com, Bitcoin still keeps its earnings in double digits compared to last week. At the time of writing, it is trading at $23,450.54.
Next resistance levels for NEAR, APE, ETH and AVAX
NEAR Protocol (NEAR) is likely to face resistance at $3.08, $4.36, $5.26, $6.40, and $7.63, according to altcoin Sherpa’s analysis of price action on the 12-hour candlestick going back to mid-May. will meet.
The Sherpa then sets the critical resistances for ApeCoin (APE). According to the analyst, $5.94, $7.63 and $9.67 will be the next resistance levels for Apecoin.
Another altcoin on the analyst’s radar was Ethereum (ETH). Altcoin Sherpa has identified the following resistances based on the price action of ETH on 1-day candles that bounced back to mid-January.
- $1,012, $1,281, $1,701, $2,145, and $2,465
Critical resistances for AVAX: $23.51, $27.51 and $36.33
Sherpa recently took a look at Avalanche (AVAX). The analyst watches AVAX on 12-hour candlesticks extending into the second week of May. According to the analyst, AVAX will likely face resistance at $23.51, $27.51 and $36.33. Additionally, $55.68 will be a potential higher resistance level.
AVAX, the 14th largest cryptocurrency by market cap, is trading at $24.70 at the time of writing. It is particularly striking that it has gained over 25% since last week.
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