Altcoin Sherpa Predicts Rallies For AVAX, XTZ & WOO, ETH Bottomed Out
A popular cryptocurrency analyst and trader, known as Altcoin Sherpa, calls a rally for Avalanche (AVAX), Tezos (XTZ) and one smaller altcoin. He also believes that Ethereum (ETH) has bottomed out.
$100 target on Avalanche (AVAX)
The pseudonymous analyst shares with his 128K Twitter followers that he is keeping a close eye on AVAX the native coin of smart contract platform, Avalanche, and a massive 2,300% rally since December, the trader thinks there is room for an additional 47% gain from its current price of $68.
“$AVAX: Still 1 of my biggest bags, market structure is still bullish from what I can see. Still targeting $100 in the coming weeks. We’ll see if L1s continue though.”
$AVAX: Still 1 of my biggest bags, market structure is still bullish from what I can see. Still targeting $100 in the coming weeks. We'll see if L1s continue though. #AVAXpic.twitter.com/8I0fGMerrS
Tezos (XTZ) should break through key resistance to rally to all-time highs
Altcoin Sherpa is also looking into open-source decentralized blockchain Tezos (XTZ). According to the analyst, Tezos is likely to break through resistance around $8.00 in the coming months to make new all-time highs.
“$XTZ: It’s still resistance but I think that a breakthrough seems likely (as long as btc holds up)”
Another smaller altcoin on the trader’s list is WOO Network (WOO), a liquidity network meant to connect traders, exchanges, and others in the space with “democratized liquidity.”
At the time of writing WOO trading at $0.77 with 21% gains on a daily chart. However, the analyst sees another leg up to $1.00 looming.
“$WOO: Long term bag of this, I’ll continue to HODL. If it cleanly breaks here, I target $1ish.”
Regarding the second largest crypto by market cap, Ethereum, Altcoin Sherpa sees the short term bottom in for ETH, although, it’s possible that it could dip down to touch the 200-day exponential moving average (EMA), currently around $2579, but should see little resistance afterward.
“$ETH: I think short-term bottom is mostly in. Maybe tap of the 200D EMA but let’s go up now.”
