A popular crypto trader and analyst thinks an Ethereum (ETH) rival is gearing up for a strong finish in 2024.
The pseudonymous analyst known as Altcoin Sherpa tells Based on his 217,900 followers on the social media platform
“SOL looks more like the green box to me than the red box. The reason is mainly due to:
- Previous price promotions (from €20-€200 were very different in 2021 than in 2024).
- More defense of key levels this time around $130.
- The overall Bitcoin (BTC) market is clearly in a much healthier place.
So yeah, I still consider SOL to be mostly healthy here. While something like $100 could still hit a flush, I still predict the price will fluctuate between $120 and $170 for a while and then a sharp rise in the fourth quarter. In other words, I don’t think it’s over.’
Solana is trading at $136 at the time of writing, down almost 3% in the last 24 hours.
Then the analyst say that the native asset of the modular blockchain network Celestia (TIA) could retest a Fibonacci retracement level of $5.80, down more than 9% from its current value.
“TIA: would like to fill in the green box and remain patient for now.”
TIA is trading at $6.38 at the time of writing, down almost 7% in the last 24 hours.
Finally, the analyst say that Render (RNDR), the graphics processing unit (GPU) that renders blockchain, could form a market bottom and start consolidating in a range between $6.10 and $7.50.
“RNDR is still below the 200-day exponential moving average (EMA), but is in a key Fibonacci region at .618. A bigger increase between here and $7.50 seems reasonable to form a longer-term bottom.”
Render is trading at $6.03 at the time of writing, down 6.7% in the last 24 hours.
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Generated image: Midjourney