A crypto analyst predicts a reversal for the leading altcoin Ethereum rival. He also says that some pretty hot altcoins are about to finish their corrective action. Another crypto analyst is expecting a surprising move from Solana (SOL).
“AVAX is giving a bullish signal”
Popular crypto analyst Michaël van de Poppe says that Avalanche (AVAX)’s RSI (relative strength indicator) is starting to rise as the price continues to drop. Therefore, he notes that the altcoin project is giving a bullish signal. He also states that this indicates that the receivers are starting to gather strength. In this context, the analyst uses the following statements:
As the markets heat up, I expect a targeted return of $17 and potentially $20 from here.
Source: Van de Poppe/TwitterOther altcoin projects on the radar
The analyst then looks at Injective. Van de Poppe says the INJ’s short-term correction period is about to end. Based on this, the analyst makes the following statement:
Yep, INJ hit that area and it’s bouncing hard. Imagine if the markets finished this correction today/tomorrow and turned up again. Then it will show strength.
Source: Van de Poppe/TwitterLast week, INJ exploded over 40% in about five days. However, he later gave up some of his gains. At press time, INJ was trading at $1.93, down about 0.68% on a daily basis.
The popular analyst is also watching Ripple (XRP) closely. If it manages to hold the support at $0.44, he predicts it will potentially bounce back into the $0.51 high range. For this altcoin, he says:
Back to low range and support. However, the second test here usually doesn’t pack a ton of power. Still good for long games. If it is lost, the next area is $0.40.
Source: Van de Poppe/TwitterThe last altcoin on Michaël van de Poppe’s radar is Ethereum rival Near Protocol (NEAR). According to the analyst, they need to retake the NEAR bulls a significant level. Otherwise, the altcoin will likely continue to decline. The analyst’s explanation is as follows:
Getting $3.10 back is important. Enables a continuation to $4 as it has been in a bearish retest so far.
Source: Van de Poppe/TwitterCan SOL surprise everyone again?
Crypto analyst Gamza Khanzadaev points out the following technical levels for Solana (SOL). The altcoin has completed its second week of declines, with a total loss of 17% over the past 14 days. In addition to the price loss, the SOL also lost support at the important $30.5 level. Now SOL will likely reach the end of the corridor where it has been trading since the end of May. That’s when the fun will begin.
Looking at the weekly SOL chart, we see that it has been trading in a similar price range for the last five months compared to a year ago. The limits for this aisle have since been $24.5 and $47. Maintaining this lower bound and breaking this ceiling, SOL has increased by 430% in the three months since August 2021.
SOL reaching the $24.5 mark is likely to mark the beginning of the end of its decline. However, falling below this level, as it was a year ago, cannot be ruled out. At the same time, there is a risk of going into a long negative price exploration if the SOL breaks below these zones and is not brought back in time. cryptocoin.com As you follow, we should not forget the unexpected increase in Solana and the hype that came with it last year. Given that, the SOL chart is really one of the interesting ones on the market this time around.
