Analyst Says Solana (SOL) Gearing Up for Sizeable Rally, Updates Outlook on Litecoin (LTC) and FTT


A closely watched crypto trader says there is a rally in store for Solana (SUN), and also updates his outlook on Litecoin (LTC) and FTX token (FTT).

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.”

Source: Altcoin Sherpa/Twitter

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.”

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Source: Altcoin Sherpa/Twitter

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.”

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Source: Altcoin Sherpa/Twitter

At the time of writing, FTT is trading at $25.64.

The cryptanalyst also weight in Bitcoin (BTC), saying that a potential drop to the $19,000 mid-level could be an opportune entry point for the bulls.

“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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Source: Altcoin Sherpa/Twitter

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