Altcoins

Analyst Maps Next Target Levels for Cosmos(ATOM), Avalanche(AVAX), Elrond(EGLD) & SushiSwap (SUSHI)

Written by: Haripriya Sureban

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Haripriya Sureban

A writer and a Crypto fanatic exploring the DeFi Space. Staying abreast on all the crypto trends and trivia is my forte. For the rest I nerd out on movies and series.

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Aug 25, 2021

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The crypto market has picked up pace this week. Multiple altcoins have made meteoric surges. Some of them have even hit new all-time highs. With the possibility of an alt season occurring soon, some altcoins are poised to surge.

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Popular Analyst Scott Melker aka Wolf of All Streets in a recent video talks about 4 altcoins. He predicts the coins on his radar to make great rallies.

Cosmos(ATOM)

First up is Cosmos, a platform set to help developers build alternative blockchains that may transact and exchange data, establishing a decentralized internet of blockchains.

Melker says the token has made a clear breakout from its slump in May. ATOM has broken above major resistance at $17. 

He predicts for the token to clear resistance at $23 and surge as high as $32.

At the time of writing, ATOM is trading at $20.16 down by 6.4% in the last 24 hours. It has corrected from its 24 hr high of $22.

Avalanche(AVAX)

Next on the list is the smart contracts platform Avalanche. according to Melker, it is positioned to reclaim its all-time high of roughly $60.

He calls it a great dip-buying opportunity. Further notes that the volume is great in comparison with the volume in the downtrend and consolidation phase.

Elrond(EGLD)

Elrond, an internet-scale blockchain, is the third coin. EGLD price is preparing to break over its immediate resistance, according to the analyst.

He predicts for the token to hit $203 and subsequently $245 if it manages to break above $148.65.

SushiSwap (SUSHI)

The automated market maker SushiSwap (SUSHI) is the final crypto asset on the list, according to Melker, it is the process of changing resistance at $13.50 into support.

He predicts for the token to hit $22.537. The surge is going to be quick as there is no great resistance in the $13.50 – $22.53 range.

“That’s the restest you’re looking for. It’s happening right now. This should be targeting $22.537. And there’s not much resistance at this area (between $13.50 and $22.53).”

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Haripriya Sureban

A writer and a Crypto fanatic exploring the DeFi Space. Staying abreast on all the crypto trends and trivia is my forte. For the rest I nerd out on movies and series.

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