A widely followed crypto strategist and trader says Solana and two other altcoins are poised to print new all-time highs while predicting the bottom for two other crypto assets.
Pseudonymous trader Smart Contracter predicts that smart contract platform Solana is gearing up for another explosive price surge en route to a new all-time high.
“SOL all-time high (ATH) baby let’s go. $300 coming up.”
Smart Contracter’s prediction is based on his analysis that Solana will follow the footsteps of Binance Coin when it rallied from about $50 at the start of the year to an all-time high of $691.
“If SOL follows the run BNB had, it can go to $900.”
Another coin on the trader’s radar is Ethereum competitor Avalanche (AVAX), which he says is poised for a big move after ending its corrective phase.
“This should be the run to ATH, as enough longs are shaken out and all focus is back on SOL. I suspect $100 or 130% from here should be fairly easy.”
Next up is Synthetix Network Token (SNX), a cryptocurrency that powers the trading of synthetic assets. According to Smart Contracter, SNX is nearly done with its accumulation phase and is ready to launch its uptrend.
“I also think SNX bottomed and going to ATH from here clean ABC down on daily from March highs. Clear 1-2 basing/accumulation structure might need more time to accumulate but decentralized finance (DeFi) should catch a bid in the next few weeks.”
The crypto analyst relies on the Elliott Wave theory, a technical analysis approach that predicts future price action by following crowd psychology that manifests in waves. According to the theory, a bull cycle goes through five distinct waves. Based on Smart Contracter’s five-wave count, SNX can soar to as high as $35, representing an upside potential of over 230% from its current price of $10.50.
As for the crypto strategist’s bottom picks, Smart Contracter is keeping an eye on Curve (CRV), the governance token of stablecoin decentralized exchange Curve Finance. According to the crypto analyst, CRV is showing signs that is ready double its value against the US dollar, Bitcoin and Ethereum.
“A lot of hate for DeFi right now because it has underperformed, but major weekly SFP (swing failure pattern)/reversals forming on the BTC and ETH pairs for CRV.”
The last coin on the trader’s list is blockchain scaling solution Polygon (MATIC), which he says is primed to reverse its bearish trend and climb as high as $2.50.
“Need lower timeframes to confirm but probably, more than likely, that was the bottom.”