Crypto Analyst Predicts Corrections for Solana (SOL), Avalanche (AVAX) and Cosmos (ATOM) – Here Are His Targets
A popular crypto strategist known for his timely altcoin calls warns that a trio of digital assets could see more pullbacks.
Pseudonymous analyst Altcoin Sherpa tells his 181,900 Twitter followers that smart contract platform Solana (SOL) is likely headed to revisit its range low of $25.
“I think a run at these $25 lows is coming. If we view this as an accumulation range (I personally am skeptical), these lows are getting tapped again. And, if we just think it’s bearish, then these lows (or even lower) are coming too. So yeah, lower no matter what.”
At time of writing, SOL is trading for $32.33. A move to Altcoin Sherpa’s target represents an over 22% downside risk for the Ethereum (ETH) competitor.
Next up is fellow smart contract platform Avalanche (AVAX). Altcoin Sherpa predicts that AVAX will likely revisit its bear market lows at around $14.
“You’re going to get your chance to buy lower, regardless if this area is the bottom OR if price just continues way lower. Be patient.”
At time of writing, AVAX is swapping hands for $19.30, up nearly 6% on the day.
The crypto strategist is also watching the price action of Cosmos (ATOM), an ecosystem of blockchains designed to scale and communicate with each other. Altcoin Sherpa sees ATOM correcting and printing a bullish higher low setup at around $8.
At time of writing, ATOM is valued at $11.67, up over 12% in the last 24 hours.
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