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A crypto strategist who continues to build a following with timely altcoin calls says one Ethereum (ETH) challenger could generate massive growth for long-term holders.
Pseudonymous analyst Altcoin Sherpa tells his 184,700 Twitter followers that he believes smart contract platform Solana (SOL) looks primed for a fresh leg down.
However, the popular crypto analyst also says that the potential move down could present a prime opportunity for SOL bulls.
“I think range lows are coming. Anything sub $20 seems like a bargain. Buy it, and throw it in a cold wallet for two years and come back to see it 10x+.”
At time of writing, SOL is swapping hands for $30, flat on the day.
Next up is decentralized exchange (DEX) Sushi (SUSHI), which Altcoin Sherpa says is gearing up for a breakout.
“Buyback was super strong. Price nailed the 0.786 Fibonacci level and bounced hard. Wicked up to this supply at $1.60 and if BTC is healthy, I think this should break that level in the mid term.”
At time of writing, SUSHI is valued at $1.45, also flat on the day.
Another altcoin on the trader’s radar is interoperable blockchain Polkadot (DOT). According to Altcoin Sherpa, DOT is likely en route to lower levels due to its inability to gather any bullish momentum.
“How’s $4.50 DOT sound? This one never really took off like it should have in my opinion.”
At time of writing, DOT is trading at $6.17. A move to Altcoin Sherpa’s target represents a downside potential of over 37% for DOT.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Space creator/Natalia Siiatovskaia
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