Cred, one of the popular Twitter analysts, said that the 3 altcoin projects could quickly recover as the cryptocurrency market compensates for the Terra crash. The analyst attributes this to the following factors…
These 3 altcoin projects are paving the way as the market rises
Including Cred, the largest smart contract platform Ethereum, and Solana (SOL) He shares his predictions about two ETH rivals, namely. According to the analyst, Ethereum could consider it as long as it stays at the bottom near $2,000. In some of their analysis, Cred says:
Weekly support is estimated at roughly $2,000. Perhaps resistance will become significant at this $2,500 price. Then there’s the top of the range at $3,000. So, if this is some kind of intermediate bottom, we’re dealing with a trading range of $2,000 to $3,000, and the $2,500 range is the midpoint. The general point of this is that if the market continues to recover, stocks perform well, we move from support to resistance etc.
Ethereum is trading for just over $2k at the time of writing.
Cred is also following Solana closely
The analyst’s next target is Solana (SOL), which the analyst says also trades in a wide range and opens up great opportunities for market players. ). According to Cred:
Your short-term range on the SOL is likely in the mid-40’s, and if the markets improve, we’ll see strength near $80 and equity back to bed. This is a significant range… To me, this is a 2x and 100% win.
Avalanche, another smart contract platform, is the last altcoin on Cred’s list. AVAX also trades in a wide range, according to the crypto expert, but warns market players that Avalanche could break out of the range and quickly trade above the resistance or below the support:
The top of the range is $40 and the low is $24… Similar to Solana, nice graphic, good trading places. Buy support, sell resistance and nothing else. Expect some wicker style deviations. For example, if it exceeds resistance, I would expect a smaller push from the exact level. The same goes for support: I guess if it reaches support it will push it a little further.
