A broadly adopted dealer and analyst says that blue skies are forward for a large-cap altcoin even amid a marketwide correction.
The dealer pseudonymously often called Altcoin Sherpa tells his 217,300 followers on the social media platform X that the native token of layer-1 blockchain Toncoin (TON) is in a powerful uptrend after hitting an all-time excessive (ATH) of $8.25 on June 14th.
“This nonetheless appears extremely robust…
TON: nonetheless one of many strongest charts in crypto.”
Toncoin is buying and selling for $8.10 at time of writing, up greater than 3% within the final 24 hours.
Subsequent up, the analyst warns that Solana (SOL) could also be on the verge of a collapse towards Ethereum (SOL/ETH).
“SOL: though I nonetheless suppose Solana is a good retail chain, the present celeb meta shouldn’t be wholesome in any respect in my view. I believe that this chart appears fairly scary and that ETH nonetheless in all probability will proceed to outperform for this subsequent stretch.”
SOL/ETH is buying and selling for 0.0409 ETH ($142) at time of writing, down greater than 4.6% within the final 24 hours. his chart, the dealer suggests SOL/ETH may decline to 0.039 ETH ($135).
Subsequent up, the analyst says that the graphics processing unit (GPU) rendering blockchain Render (RNDR) may retest the Fibonacci retracement degree at $6.03.
“RNDR: good undertaking however I wouldn’t begin scaling in till $7ish or decrease. May very well be an excellent shopping for space there.”
RNDR is buying and selling for $7.94 at time of writing, down greater than 4% within the final 24 hours.
Lastly, the analyst predicts that Ethereum will print new ATHs.
“ETH to ATH continues to be inevitable. I don’t know when or the way it will get there however this provide zone goes to interrupt finally. Nonetheless looks like a assure and a reasonably protected commerce you may take (so long as you may eat the short-term drawdown).”
Ethereum is buying and selling for $3,479 at time of writing, up barely within the final 24 hours. ETH reached an ATH of about $4,900 in November 2021.
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