The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Here’s What’s Next for Solana, Avalanche and One Hot Ethereum Rival, According to Top Crypto Analyst

by Daily Hodl Staff
July 21, 2022
in Altcoins, Bitcoin, Ethereum

A popular analyst is diving into the price charts for half a dozen crypto assets as the markets rebound from a challenging last few months.

The pseudonymous trader Altcoin Sherpa tells his 180,400 Twitter followers that while he foresees smart contract platform Solana (SOL) rising to around $60 as long as Bitcoin (BTC) holds up, long term he’s not optimistic about SOL’s strength.

“Although I think price is going to $60ish if BTC stays healthy, I think that it’s still very bearish overall.

If you’re looking for some sort of macro reversal pattern, you’ll probably get a much better entry than current price later [in my opinion].

Still a good trading opportunity now.”

Image
Source: Altcoin Sherpa/Twitter

Solana has had an impressive week, jumping from $34 to nearly $47 before correcting. SOL is trading for $41.77 at time of writing.

The analyst next examines Bitcoin’s exponential moving average (EMA) on 4-hour candles, sharing his belief that BTC might be able to work its way to around $28,000 before prevailing bear-market conditions knock it back down.

“Four-hour EMAs all flipped bullish for the first time since March. I think that this grinds all the way to the high $20,000s, i.e. $28,000, before probably dumping.

It’s important to remember this is still a bear market.”

Image
Source: Altcoin Sherpa/Twitter

Bitcoin has managed to hold the $20,000 support level for the past week and is currently trading for $23,321.

Regarding decentralized application (DApp) platform and Ethereum competitor NEAR Protocol (NEAR), Altcoin Sherpa looks at its price action on 12-hour candles dating back to mid-May while predicting NEAR will encounter resistance at $3.08, $4.36, $5.26, $6.40, and $7.63.

Image
Source: Altcoin Sherpa/Twitter

NEAR is up by nearly 50% over the past week, jumping from a low of $3.09 on July 13th to a high of $4.61 on Wednesday.

The trader next plots out 12-hour candles dating back to the beginning of May to set resistance for the Bored Ape Yacht Club (BAYC) offshoot project ApeCoin (APE) at $5.94, $7.63, and $9.67.

Image
Source: Altcoin Sherpa/Twitter

ApeCoin also witnessed a recent price surge, jumping from $4.38 on July 14th to a weekly peak of $6.42 on Wednesday before correcting slightly. APE is currently trading for $5.79.

Also on the analyst’s radar is leading smart contract platform Ethereum (ETH). Looking at price action on 1-day candles dating back to mid-January, Altcoin Sherpa sees ETH encountering resistance at $1,012, $1,281, $1,701, $2,145, and $2,465.

Image
Source: Altcoin Sherpa/Twitter

ETH has been on a tear this month, rising 50% from a July 1st low of $1,065 to a $1,602 peak on July 20th. Ethereum is changing hands for $1,535 at time of writing.

Last on Altcoin Sherpa’s crypto watch list is the layer-1 smart contract platform Avalanche (AVAX). He examines the 12-hour candles dating back to the second week of May and says that AVAX is likely to encounter resistance at $23.51, $27.51, and $36.33. The analyst also points out $55.68 as a potential higher-side resistance level.

Image
Source: Altcoin Sherpa/Twitter

Avalanche is currently trading for $23.94.

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Manon_Labe/Tun_Thanakorn

Submit a Press Release

Industry Announcements

  • Script Network, SingularityNET and Stacks Bring Practical Solutions to Real-World Issues
    March 29, 2023
  • OKX To Open Office in Australia
    March 29, 2023
  • Metacade Raises Over $14.7 Million As Presale Sets To Close in 72 Hours
    March 29, 2023
  • Binance Expands AI-Powered NFT Generator Bicasso
    March 28, 2023
  • Open-Source Blockchain D-Ecosystem Raises $6 Million Ahead of IDO on March 29, 2023
    March 27, 2023
  • Bitget Becomes the First Centralized Exchange To Offer Financial Transparency Through Space and Time
    March 27, 2023
  • OKX Launches Turkish Lira Deposits and Withdrawals
    March 27, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$28,316.59
$28,316.59
2%
Ethereum
$1,802.53
$1,802.53
3.3%
Cardano
$0.380868
$0.380868
13.46%
XRP
$0.460298
$0.460298
19.52%
Dogecoin
$0.076029
$0.076029
5.81%

Spotlight

  • Cathie Wood Says Price of Bitcoin Will Go Through the Roof if People Lose Confidence in Monetary System
    March 27, 2023
  • Whales Abruptly Move 135,800,000 XRP As Altcoin Flashes Signs of Life – Here’s Where the Crypto Is Going
    March 27, 2023
  • Coinbase Executive Says US Government Squandering Lead in Technology With Lack of Crypto Regulatory Clarity
    March 27, 2023
  • CFTC Goes After Binance and Changpeng Zhao With Lawsuit, Bitcoin (BTC) and Crypto Markets Get Rocked
    March 27, 2023
NBX Warsaw Summit Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl