A popular crypto analyst, known as Altcoin Sherpa, is predicting a strong finish to the year for Solana (SOL), a top-10 cryptocurrency.
Solana’s Bullish Outlook
Sherpa believes that Solana’s market structure is healthy and that it’s poised for a breakout before the year ends. He highlights several reasons for his optimism:
- Strong Price Action: Solana’s price surge from $20 to $200 in 2021 was much more significant than its current performance, indicating potential for growth.
- Strong Support Levels: Solana has been holding key support levels, demonstrating resilience.
- Healthy Bitcoin Market: The overall Bitcoin market is in a better position than it was in 2021, providing a more favorable environment for altcoins.
Sherpa predicts that Solana will likely trade between $120 and $170 for a while before experiencing a strong run-up in the fourth quarter.
Celestia and Render Predictions
The analyst also shared his views on two other cryptocurrencies:
Celestia (TIA): Sherpa believes that Celestia’s native token, TIA, could retest a Fibonacci retracement level at $5.80. This would represent a decline of over 9% from its current price.
Render (RNDR): Sherpa sees potential for Render, a GPU rendering blockchain, to form a market bottom and consolidate between $6.10 and $7.50. He notes that while RNDR is still below its 200-day moving average, it’s currently at a key Fibonacci region.
Disclaimer: It’s important to remember that these are just predictions from a crypto analyst. Always do your own research before making any investment decisions. /p>
