Widely followed crypto analyst Altcoin Sherpa warns that more weakness lies ahead for one large-cap memecoin.
The pseudonymous trader tells its 221,500 followers on social media platform
Sherpa says,
“It pains me to say it, but DOGE will probably continue to bleed to $0.08. I still think this is probably a good choice for this cycle for passive investors, but eh.”
Based on the trader’s chart, he seems to suggest that the key levels to watch for Dogecoin’s potential decline are $0.0998, $0.0855, and $0.0736.
Dogecoin is trading at $0.101 at the time of writing.
Altcoin Sherpa also offers its take on Solana (SOL). According to him, Solana could revise the $190 level in the near term if SOL overcomes a resistance level around $165.
Say the analyst,
“A break of $165 would mean the price is likely to move towards $190 in the near term. I still think $120 – $150 is a good place to start collecting SOL personally.”
Solana is trading at $145 at the time of writing.
Next up is the native token of the decentralized finance (DeFi) platform Aave (AAVE). Sherpa say that he sees the AAVE falling by at least 12% from current levels.
“AAVE has had quite a rebound, but I think it will still go at least around $110. Would be patient. I will not bid on DeFi until it has a sustained trend/movement.”
AAVE is trading at $125 at the time of writing.
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