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Altcoin Sherpa Updates Ethereum, Solana, Avalanche And NEAR Protocol

A widely followed analyst, known as Altcoin Sherpa, identifies key levels for Ethereum (ETH), Solana (SOL), Avalanche (AVAX) and NEAR Protocol (NEAR), as the market tumbles.

Ethereum (ETH)

The analyst shared with his 177.4K followers on Twitter that he’s looking at Ethereum with one-week candles, and that the $500 to $800 range is a possibility, if ETH loses support at $1,000.

“Some 1-week targets here. I think $1,000 is a solid short-term bottom for obvious reasons.

$800 would be the next area up, eventually $500 if things get bad.”

At the time of writing, ETH trades at $1,242, up 3.5% on the daily.

Solana (SOL)

Looking into layer-1 blockchain Solana, Altcoin Sherpa believes that SOL might recapture some of its losses in the near term, but bottom is not in yet, according to him.

“IMO (In my opinion) current area is a good buy zone for a short-term bounce, would NOT get greedy and assume this is ‘the bottom’.

Bottom is probably sub-$20 if things continue lower.”

At the time of writing, SOL trades at $35, up 18% on the daily chart.

Avalanche (AVAX)

Next up is layer-1 smart contract platform Avalanche, which the analyst expects eventually to fall to $10, adding that a sub-$5 price tag would mean “things are really bad.”

“Some targets. Long term I think that 10 bucks gets tagged eventually.”

At time of writing, AVAX trades at $18.30, up 10% on the daily.

NEAR Protocol (NEAR)

The fourth and last crypto asset on Altcoin Sherpa’s list is decentralized application (dApp) platform and Ethereum competitor NEAR Protocol. He targets $2.50 as a possible bottom, noting that further market capitulation could take NEAR below $2.

“$2.50ish would be a target in the mid-term; we could see a bounce before then, though.

If things get bad, eyeing sub-$2.”

At the time of writing, NEAR trades at $3.67, up 9% on the daily.

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