Pseudonymous crypto analyst Altcoin Sherpa tells his 186,200 Twitter followers that the Ethereum (ETH) rival could see more than a 50% rally if its current support holds steady at several critical exponential moving averages (EMAs) on the four-hour time frame.
“I think it’s at a key level on the 4h (four hour time frame), would really like to see this area hold given the EMAs. $30 is the next area up if we fail. I’m still of the opinion we’ll see high $40s though in the coming weeks.”
At time of writing, Solana is switching hands at $31.27.
Altcoin Sherpa next sets his sights on Litecoin, which is up 11% in the last 24 hours. He says he’s perplexed by the rally, and while he doesn’t see LTC jumping much further, he names $67 as a potential price target.
“I don’t know why this s**tcoin is pumping. I’d be wary of the incoming levels if they get there, $67 is the 200-day EMA and it’s unlikely this is a sustained pump. Not going to trade this one yet.”
At time of writing, Litecoin is trading at $60.31.
Altcoin Sherpa revisits the native token of crypto exchange FTX, FTT. He forecasts a rally to $28, about 12% from current prices.
“I think this one actually does go to $28 eventually but would not buy at this current area. Haven’t looked at this chart in a while but it makes sense for FTX to pump this one.”
At time of writing, FTT is trading at $25.64.
“It’s scary to be in an active position right now, better to bid lower in my opinion. Mid $19,000s has interesting confluence with many EMAS (exponential moving averages) on the 4h and S/R level (support/resistance levels). Many alts pulling back for now. I’m still of the opinion we go to $23,000 in the midterm for what it’s worth.”
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