Altcoin Sherpa Projects Next Moves For Solana (SOL) & Avalanche (AVAX)
A popular crypto analyst, known as Altcoin Sherpa, is keeping an eye on layer-1 smart contract platfroms Solana (SOL) and Avalanche (AVAX) as uncertainty grows in the crypto market.
Solana (SOL)
The crypto market expert shared with his 169.6K followers on Twitter that he sees good opportunity to dollar cost average SOL at $70 to $90 range. He also posted a chart of SOL last approaching a critical accumulation zone not seen since August 2021.
“I still personally believe that this is forming a bottom on higher time frames.
With that said, I think it’s going to likely be a bit before this moves and there is an opportunity cost to buying / DCAing from 70-90.
Not a good active trade but maybe an ok investment.”
$SOL: I still personally believe that this is forming a bottom on higher time frames. With that said, I think it's going to likely be a bit before this moves and there is an opportunity cost to buying /DCAing from 70-90. Not a good active trade but maybe an ok investment.#Solanapic.twitter.com/8kKTTztkeh
At the time of writing, SOL is trading $83.56, up 1.5% on the daily time frame.
Avalanche (AVAX)
Looking into Avalanche (AVAX), Altcoin Sherpa zooms out and draws 200-day exponential moving average (EMA), an indicator commonly looked at by long-term traders.
“Still looks bearish overall, expecting more consolidation in the short term. 200D EMA hanging on by a thread but if BTC legs down, this should go back to the lows.”
$AVAX: Still looks bearish overall, expecting more consolidation in the short term. 200D EMA hanging on by a thread but if btc legs down, this should go back to the lows. pic.twitter.com/fcg1ZEsjxD
