As the overall crypto markets remain uncertain in the new week, a widely followed crypto analyst is keeping a close eye on a trio of altcoins.
The famous analyst explained that the two Ethereum killer altcoins, Solana and Avalanche, and what levels are next for this altcoin. Here are the levels that the famous analyst is waiting for;
Solana (SOL) Targets $90
The cryptocurrency analyst known as Altcoin Sherpa tells his 169,600 Twitter followers that he is targeting $70 to $90 as the dollar cost average (DCA) buying range for the layer 1 blockchain protocol Solana (SOL).
Altcoin Sherpa made the following statements about Solana;
“Personally, I still believe Solona is making a bottom on longer timeframes. There is an opportunity cost for acquisition/DCAing in the $70-$90 range.
Not a good active trade, but maybe a good investment.”
Altcoin Sherpa shared a chart showing SOL approaching a critical accumulation zone not seen since August 2021.
Solana was in a slow downtrend last week and dropped 20.2% from $105.63 on March 2 to $84.25 today, including a 3.54% drop.
Next on the analyst’s watchlist is the tier 1 smart contract platform Avalanche (AVAX). The famous analyst discussed AVAX’s 200-day exponential moving average (EMA), an indicator widely viewed by long-term investors.
Altcoin Serpa said in his statements about AVAX;
“Overall it still looks bearish, expecting more consolidation in the short term. The 200D EMA is hanging on, but if BTC drops, Avalanche could return to lows.”
Avalanche is currently trading sideways at $74.53, down 17.1% from its weekly high of $89.92 on March 1.
Altcoin Sherpa also recently discussed the Kyber Network Crystal (KNC). The famous analyst thinks that the altcoin is holding up well amid broader market selloffs and there may still be room for a price increase.
The analyst said in his statement:
“Honestly I still love it, it was voted the best of the range and still the market structure is bullish.
This acted well despite the rest of the market dumping. One of the altcoins to watch.”
At the time of writing, Kyber Network Crystal continues to trade at $2.59, the same level as last week, after hitting $2.89 on Thursday.