A crypto analyst, Altcoin Sherpa, predicts a significant rally for Solana (SOL) later this year. He believes SOL could reach $500 or more, a potential increase of 267% from its current price.
Key Fibonacci Levels for SOL
Altcoin Sherpa identifies key Fibonacci levels at $138 and $116 as potential areas for a retest. At the time of writing, SOL is trading at $136.
AI-Related Coins: Fetch.ai (FET) and Render (RNDR)
The analyst also discusses two AI-related projects, Fetch.ai (FET) and Render (RNDR). He believes they may experience a retracement to lower Fibonacci levels before a rally.
FET may dip to $1.45, while RNDR could fall to around $6.
Current Market Conditions
Altcoin Sherpa notes that the current price action of Bitcoin (BTC) could lead to opportunities for AI coins. He suggests averaging in at lower Fibonacci levels for potential gains.
Disclaimer
The opinions expressed in this article are not investment advice. Investors should conduct their own research before making any high-risk investments.
