A famous analyst is updating his pricing targets for a cryptocurrency trio as the markets conclude a tough week of trading.
The pseudonymous trader Altcoin Sherpa plot different Fibonacci levels for the Solana (SOL) smart contract platform, telling its 182,400 Twitter followers that it could see the altcoin briefly climb to $ 36.60 before dropping below $ 26.
“I think bouncing here makes sense, but in the end I still think half of the $ 20 will eventually come.
I would be patient with this ”.
Solana is looking to recover from a tough last week in August, which saw its price drop 14.3% from $ 35.27 to $ 30.21.
SOL briefly flirted with the $ 33 level, but is currently trading at $ 31.48.
The next step on the analyst’s radar is the Polkadot cross-chain interoperability protocol (DOT). Altcoin Sherpa provides a two-year chart setting several potential price targets where $ 10.36 acts as resistance and around $ 4.50 marks the low.
“Haven’t looked at this shit coin in a while, around $ 4.50 will come if things get really bad.
If this is the bottom, it will look like a double bottom structure [in my opinion]. “
Polkadot is also battling the flash crash that hit most asset classes last weekend following Federal Reserve Chairman Jerome Powell’s comments on tightening monetary policy.
At the time of writing, DOT is switching hands for $ 7.14.
The latest is Ethereum (ETH) NEAR Protocol (NEAR) competitor, which the analyst examines on four-hour candles dating back to late July. Altcoin Sherpa thinks NEAR is holding up better than expected but warns potential investors that the altcoin is currently testing its resistance zone to the upside.
“I haven’t looked at this shitcoin for a while, it actually looks pretty decent.
It’s at resistance, so I wouldn’t buy this level enough, but a break / retest could mean a move up to $ 5.
Keeping an eye “.
Near Protocol has fully recovered from last week’s price drop, down just 1.05% in the past 24 hours and worth $ 4.35.
NEAR’s price spiked earlier this week when leading US cryptocurrency exchange Coinbase added altcoin to its trading roster.
Featured Image: Shutterstock / Everyonephoto Studio
Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoin and blockchain technology
Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoin •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Future of the future •
TERMS AND CONDITIONS | CONTACT
JOIN US ON TELEGRAM
JOIN US ON TWITTER
JOIN US ON FACEBOOK
COPYRIGHT © 2017-2022 THE DAILY HODL
© 2022 The Daily Hodl