A widely followed crypto analyst says that one Ethereum (ETH) rival that’s skyrocketed by over 300% this year still has more room to rally.
Pseudonymous crypto trader Altcoin Sherpa tells his 194,200 followers on the social media platform X that smart contract platform Solana (SOL) will likely continue surging up in price until proven otherwise.
[adinserter block="1"]The strategist also says he’s not sure what will become of bankrupt crypto exchange FTX’s holdings of Solana worth $1.16 billion as of August 31st.
“SOL: I think that $35-$32 are buy-the-dip zones. I don’t know what happens with FTX supply but this should keep running until shown otherwise.”
Solana is trading for $39.83 at time of writing, a staggering 300% rise since the start of 2023 when it was moving for just $9.97.
Moving on to the decentralized crypto exchange (DEX) platform SushiSwap (SUSHI), Altcoin Sherpa says that accumulating the digital asset at $0.91 seems like a good idea with the 0.5 Fibonacci level offering support.
“SUSHI: I think buying $0.91 seems pretty solid. S/R(support and resistance) level, etc.”
At time of writing, SUSHI is worth $1.06.
The crypto strategist concludes his analysis by noting that traders should keep an eye on the $9.50 price level of the decentralized oracle provider Chainlink (LINK).
“LINK: come on… let’s fill the rest of my bids, please. $9.50 is the area.”
At time of writing, LINK is trading for $11.32.
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