A popular analyst is digging into the charts to set price targets for four crypto assets as markets fall.
The pseudonymous trader known as Altcoin Sherpa He says his 177,300 Twitter followers that he is eyeing leading smart contract platform Ethereum with one-week candles, and that the $500-$800 range is a possibility if ETH capitulates at $1,000.
“Some 1 week goals here. I think $1,000 is a solid short-term fund for obvious reasons.
$800 would be the next area, eventually $500 if things go south.”
Ethereum is currently down 10% on the day and is trading at $1,117.
Moving to Layer 1 Blockchain Solana the Analyst think SOL could recoup some of its short-term losses, but still expects the altcoin to drop below $20.
“[In my opinion] the current area is a good buy zone for a short term bounce, I would NOT be greedy and assume this is ‘the bottom’.
The bottom is likely to be below $20 if things continue lower.”
Solana is down nearly 5% today and is changing hands for $29.34.
Altcoin Sherpa Next evaluates Layer 1 smart contract platform Avalanche says it hopes AVAX will eventually drop to $10, adding that a price of less than $5 would mean “things are really bad.”
“Some goals. In the long term, I think $10 is tagged eventually.”
At the time of writing, Avalanche is in the red at 5.92% and is priced at $15.73. A week ago, AVAX was trading above $24.
Last on the chart guru’s list is decentralized application platform (dApp) and Ethereum competitor NEAR Protocol. He’s looking at roughly $2.50 as a potential bottom, signaling that further market capitulation could push CLOSE below $2.
“$2.50ish would be a medium term goal; However, we could see a bounce before then.
If the going gets tough, looking below $2.”
The NEAR protocol is 5.83% underwater on the day with a starting price of $3.23.
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