Top Crypto Analyst Cred Updates Next Moves For ETH, SOL, AVAX

A popular crypto analyst and trader, known as Cred, looks into what’s next for the leading smart contract platform Ethereum (ETH) and two of its challengers, Solana (SOL) and Avalanche (AVAX).

Ethereum (ETH)

In a recent video update, the analyst notes that ETH might have moved to an interesting range assuming that the support at $2,000 holds.

“This might be our range for some time. Support on the weekly at around $2,000. Maybe at this point, resistance will become relevant here at $2,500. Then the top of the range at $3,000. So if this is some sort of interim bottom, we’re dealing with the range we have to trade is between $2,000 – $3,000, and $2,500 is the range midpoint…
If stuff continues to bounce, if equities do well etc., the basic target for that would be from support to resistance.”

At time of writing, ETH has slipped below the $2K support and trades at $1,933, down 7.5% on the daily chart.

Solana (SOL)

Looking into Solana, Cred notes that it is also trading within a big range that offers good opportunities for traders.

“If the markets bounce and we see strength and again a usual proviso of equity not shitting the bed, your short-term range in SOL is probably between mid-$40s and closer to $80. This is a pretty big range… My amazing math degree tells me that’s a 2x and 100% gain sort of.”

At time of writing, SOL trades at $50.53, down 11.4% on the daily chart.

Avalanche (AVAX)

Smart contract platform Avalanche (AVAX) is the last coin on analyst’s list. AVAX is also trading in a wide range but could possibly deviate from the range and for a small period of time trade above resistance or below support, Cred says.

“The range high coming in at $40, and the range low coming in at $24… Similar to Solana, decent chart, good areas to trade. Buy support, sell resistance and not do a whole lot else. I do expect a bit of deviation, wickery type of stuff. If it goes above resistance, for example, I’d expect a slight push higher than the exact level itself.
The same for support: if it goes to support, I’d expect it to push a little bit below.”