Altcoin Sherpa, a trader and analyst with a significant following, is sharing updated insights on a medium-cap cryptocurrency that has seen a massive surge in value since January.
Known by the pseudonym Altcoin Sherpa, this trader is informing his 217,100 followers on X about the strength of Ondo Finance’s utility token, ONDO. Ondo Finance is a crypto project that focuses on the tokenization of real-world assets (RWAs), and Altcoin Sherpa believes that ONDO is still one of the strongest coins in the market.
According to Altcoin Sherpa, ONDO has recently bounced off a key support level, potentially confirming the strength of its upward trend. Analyzing the charts, it seems that ONDO’s bounce aligns with the 0.382 Fibonacci retracement level, which is used to identify potential support or resistance points based on Fibonacci numbers.
Furthermore, Altcoin Sherpa’s analysis indicates that ONDO has managed to stay above the 200 exponential moving average (EMA) on the four-hour chart for more than three weeks.
As of the current writing, ONDO is trading at $1.31, marking a significant 1,469% increase from its low of $0.0822 on January 18th.
Shifting focus to Solana (SOL), Altcoin Sherpa predicts that SOL will likely continue to trade within a range of $185 to $120. Despite the wide range, Altcoin Sherpa believes that a period of consolidation is expected after SOL’s substantial price increase, hinting at potential future growth.
At the time of writing, Solana is priced at $150.
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Disclaimer: The views expressed by Altcoin Sherpa are not investment advice. It is essential for investors to conduct thorough research before engaging in high-risk investments in Bitcoin, cryptocurrency, or digital assets. All transfers and trades are at the investor’s own risk. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor does it provide investment advice. Please be aware that The Daily Hodl participates in affiliate marketing activities.
