A widely followed crypto trader is predicting more rallies for smart contract protocol Avalanche (AVAX) and artificial intelligence (AI)-focused altcoin Fetch.ai (FET).
Pseudonymous analyst Altcoin Sherpa tells his 201,600 followers on the social media platform
The trader shares a chart showing AVAX breaking out of resistance at $39 on the weekly chart.
“AVAX: I don’t know why this is moving so fast, but it’s pretty incredible to see this among all the new tier-1s/tier-2s available. AVAX has outperformed many of the hot, shiny new chains during this run. In my opinion, $55 and $60 are next.
At the time of writing, AVAX is worth $39.63.
Looking at the decentralized machine-learning network Fetch.ai, Altcoin Sherpa thinks FET is also on the rise. According to the analyst, the FET could rise more than 40% from current prices.
“FET: currently the level is interesting, but I’m still not going to buy here. To be honest, I’m still looking for my main AI game for this cycle. I have other bags and stories packed, but not this one (yet). Frankly, $0.90 seems likely in the medium term.”
At the time of writing, FET is trading at $0.64.
The last altcoin on the trader’s radar is the original holding of the blockchain-based gaming network Beam (BEAMX). Altcoin Sherpa says he is waiting for BEEAMX to drop a bit lower before showing interest in the altcoin.
“RAY: Nice pullback for those interested in getting in quickly. I think BEAM is a great index for web3 gaming in general. I have a bag and I will hold on to it for a while. I think the $0.016 area is interesting….0.50 Fibonacci level of the whole move. Would look there.”
At the time of writing, BEAM is trading at $0.019.
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
follow us on Tweet, Facebook And Telegram
Surf to the Daily Hodl mix
Featured image: Shutterstock/JLStock/Sensvector