Altcoins

SOL, AVAX, DYDX, REN set to soar high! Analyst predicts next levels

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Following a week of huge market volatility caused by China’s crypto prohibition, Bitcoin’s value increased by 4.35 percent on Tuesday. As greens ruled most cryptos, Ether saw a 0.84 percent boost, while Dogecoin had a massive price surge of 11.19 percent.

Cardano, Tether, and Ripple are just a few of the major cryptocurrencies that have seen their prices rise.

Popular Analyst and trader pseudonymously known as “Altcoin Sherpa” on Twitter has predicted rallies for smart contracts platforms Solana and Avalanche. He also predicts next levels for DyDx and Ren

Solana(SOL)

The analyst tells that  the recent price spike in smart contract platform Terra (LUNA) has convinced him that Solana would break out sooner than he anticipated.

“$SOL: I had an idea that #Solana would range between 130-175 for a while but seeing what LUNA just did, I think this actually breaks out sooner rather than later.”

At the time of writing, SOL is trading at $168.77 down by 1.7% in the last 24 hours. 

Avalanche(AVAX)

The Sherpa notes that while he took some profits on AVAX at $70, he still has a stake and expects another run up. He says, 

With the success of NFTs, L1s have one more leg to go.

At the time of writing, AVAX is trading at $65.73 down by 2% in the last 24 hours. 

dYdX(DYDX)

The decentralised exchange dYdX (DYDX) is next, with a gain of 26% in the last week to $24.66 at the time of writing. After a small retreat, the trader predicts the coin will surpass all-time highs.

“$DYDX: This is what you want to see for continuation-consolidation at the .382.”

However, he also mentions that a small pullback can be seen at ATH levels but he expects this to break all time high levels.

At the time of writing, DYDX is trading at $23.02 down by 7.3% in the last 24 hours.

Ren(REN)

Next up on the analysts watch is the digital asset transfer software Ren. Sherpa sees an upward trend with noticeable higher highs and lower lows on the chart. He further adds that a new low around $1 could be a solid buying area. 

At the time of writing, REN is trading at $1.25 up by 5.3% in the last 24 hours.

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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.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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