Crypto analyst Sheldon The Sniper believes now is the time to buy altcoins, predicting a big rally is coming soon. He shared his top picks and entry points for those looking to jump in.
Sheldon’s Top Altcoin Picks
Sheldon highlighted several altcoins he’s watching closely:
- XRP: Showing strong signs of recovery, he believes it could bounce back significantly from its current price.
- Solana: After breaking through a key resistance level following Bitcoin’s recent surge, Solana is looking strong. He sees it potentially returning to the $150 range and erasing recent losses.
- Dogecoin: Recently broke out and is aiming for new highs.
- Injective: Broke a long-term trend and is currently fighting a wedge pattern. Sheldon considers it a good buy with an entry point around $20.78 and a stop loss at $20.36. He sees potential for it to reach $22 in the short term.
- Avalanche: Sheldon plans to buy at its current price and ride it up to $32 or even $36, with potential for it to hit $50 as the market recovers.
Bitcoin’s Role in the Altcoin Rally
Sheldon believes Bitcoin is facing strong resistance around $58,000 due to selling pressure and its recent fall below the 200-day Moving Average (MA). He thinks Bitcoin could trade sideways within the $50,000 range while it stays below the MA.
The upside of this Bitcoin price action? It could shift attention to altcoins, giving them a chance to bounce back strongly. /p>
