An anonymous crypto trader and analyst believes that Solana (SOL) is poised for a strong performance by the end of 2024, according to Altcoin Sherpa, who shares insights with his 217,900 followers on X social media platform. Altcoin Sherpa points out that SOL has a solid market structure and anticipates a breakout for this top-10 altcoin before the year concludes.
“SOL appears more favorable to me, resembling the green box rather than the red box. This is mainly due to the distinct price action in 2021 compared to 2024, as well as the defense of key levels, such as $130. Additionally, the overall health of the Bitcoin (BTC) market is significantly better. Therefore, I still consider SOL to be in good shape. Despite a possible drop to around $100, I expect the price to fluctuate between $120-$170 for some time before a strong surge in the fourth quarter. In other words, I don’t believe it’s ‘game over’ just yet.”
Solana is currently priced at $136, showing a decrease of nearly 3% in the last 24 hours.
Moving on, Altcoin Sherpa suggests that Celestia’s native asset (TIA) could revisit a Fibonacci retracement level at $5.80, representing a decline of over 9% from its current value.
“TIA: eager to see it reach the green box, exercising patience for now.”
At present, TIA is trading at $6.38, marking a decrease of almost 7% in the last 24 hours.
Lastly, Altcoin Sherpa notes that Render (RNDR), a blockchain for GPU rendering, may be establishing a market bottom and could consolidate within the range of $6.10 to $7.50.
“RNDR is below the 200-day EMA but appears to be at a significant Fibonacci level at .618. It seems reasonable to expect more fluctuations between this level and $7.50 to form a strong base for the long term.”
Currently, Render is priced at $6.03, reflecting a 6.7% decline in the last 24 hours.
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