Smart Contracter Predicts ATHs For SOL, AVAX & SNX, CRV & MATIC Bottoming Out
According to a pseudonymous crypto market analyst and trader, known as Smart Contracter, Solana and two other altcoins (AVAX and SNX) are preparing to rise to new all-time highs. He also predicts that Curve and Polygon are bottoming out.
Solana (SOL)
Smart Contracter predicts that Ethereum competitor and smart contract platform Solana is getting ready for another explosive price jump to a new all-time high.
“SOL all-time high (ATH) baby let’s go. $300 coming up.”
The second coin the analyst is looking into is another Ethereum competitor, Avalanche (AVAX), which according to Smart Contracter is is preparing for jump after ending its corrective phase.
“This should be the run to ATH, as enough longs are shaken out and all focus is back on SOL. I suspect $100 or 130% from here should be fairly easy.”
The third altcoin that the trader predicts a jump to all-time high is Synthetix Network Token (SNX). According to Smart Contracter, SNX is almost ready with its accumulation phase and prepares to start climbing.
“I also think SNX bottomed and going to ATH from here clean ABC down on daily from March highs. Clear 1-2 basing/accumulation structure might need more time to accumulate but decentralized finance (DeFi) should catch a bid in the next few weeks.”
Smart Contracter is basing his predictions on the Elliott Wave theory, a technical analysis approach that predicts future price action by following crowd psychology that manifests in waves.
The Elliott Wave theory is a form of technical analysis that looks for recurrent long-term price patterns related to persistent changes in investor sentiment and psychology.
The theory identifies impulse waves that set up a pattern and corrective waves that oppose the larger trend.
Each set of waves is nested within a larger set of waves that adhere to the same impulse or corrective pattern, which is described as a fractal approach to investing.
According to the theory, a bull cycle goes through five distinct waves. Based on Smart Contracter’s five-wave count, SNX could jump as high as $35. the altcoin is trading at $12.67 at the time of writing.
Curve (CRV)
Smart Contracter is closely following on Curve (CRV), which is the governance token of stablecoin decentralized exchange Curve Finance. According to him, CRV is bottoming out and showing signs that could double its value against the USD, BTC and ETH.
“A lot of hate for DeFi right now because it has underperformed, but major weekly SFP (swing failure pattern)/reversals forming on the BTC and ETH pairs for CRV.”
Lastly Smart Contractor covers blockchain scaling solution Polygon (MATIC). According to him MATIC is ready to reverse its bearish pattern and move up as high as $2.50.
“Need lower timeframes to confirm but probably, more than likely, that was the bottom.”
some coins look like they already did big fuck off abcs correcting the 5 wave rises on daily.
not all of them look like this yet but $matic is one.
