Successful trader Nicholas Merten says the recent market pullback offers huge opportunities for Ethereum (ETH), Solana (SOL) and Avalanche (AVAX). In this article, let’s take a look at Merten’s expectations from the altcoin market, keeping in mind that the forecasts are not sharp.
These 3 altcoins offer great opportunities
Cryptocoin. com, Nicholas Merten, whose analysis we shared, said in a new strategy session that the prices of the leading smart contract platform Ethereum (ETH) and its two rivals have reached the opportunity zone that can offer opportunities for bulls. The analyst shares his thoughts with:
Ethereum is down 48% since May. Whatever you feel about these protocols, I have to say that I like Solana a lot more with a 68% discount in the $80-$90 range than buying it at $253. There is also Avalanche here. Another big first-layer protocol, going from about $150 to $50, is buying at about a two-thirds correction in value and close to 66% off.
- Ethereum hit $3,730 in the new year but witnessed a series of price drops, 29% in January. 8 fell and 2,505. It is trading at $37. Successful layer one protocol Solana is down from $173.62 to $99.10 in 2022, while Avalanche is down 36% from its January 1 price of $110.70. It is trading at $67.30, down 4 percent.
Merten finally says that Bitcoin (BTC) is at a really critical point:
The Fed meeting will likely either lead us towards the $150K, $200K range we’ve talked about in the past, or it will lead us to what could potentially happen. A bear market is not just for crypto, but for all markets as well.
- Bitcoin has been in a long downtrend since hitting an all-time high above $69,000 in November. 19% this month alone. The 2022 high is down 3 at $47,292 to 37,009. It is trading at $54.
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