Pseudonym Crypto Analyst Altcoin Sherpa He says his 186,200 Twitter followers that Ethereum’s (ETH) rival could see a rally of more than 50% if its current support holds steady at several critical exponential moving averages (EMAs) on the four-hour time frame.
“I think it is at a key level at 4h (four hour time frame), I would really like to see this area hold given the EMAs. $30 is the next area if we fail. I remain of the opinion that we will see high $40s in the coming weeks.”
At time of writing, Solana changes hands at $31.27.
Altcoin Sherpa then sets its sights on Litecoin, which is up 11% in the last 24 hours. The He says he is puzzled by the rally, and while he doesn’t see LTC jumping much higher, he mentions $67 as a potential price target.
“I don’t know why this shit coin is pumping. I would watch out for incoming levels if they get there, $67 is the 200 day EMA and this is unlikely to be a sustained pump. I’m not going to change this yet.”
At the time of writing, Litecoin is trading at $60.31.
Sherpa Altcoin check out the native token of the FTX crypto exchange, FTT. He forecasts a rally to $28, about 12% from current prices.
“I think this actually gets to $28 eventually, but I wouldn’t buy in this current area. Haven’t looked at this chart in a while, but it makes sense for FTX to pump this one.”
At the time of writing, FTT is trading at $25.64.
“It is scary to be in an active position at the moment, in my opinion, it is better to bid lower. Mid $19,000 has an interesting confluence with a lot of EMAS (exponential moving averages) at the 4-hour level and S/R (support/resistance levels). Lots of alts going back for now. I’m still of the opinion that we’re going to $23,000 mid-term for what it’s worth.”
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