Altcoins

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

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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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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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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