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The popular crypto strategist has set new potential price targets for Ethereum (ETH) and Solana (SOL), and also provides an update on Bitcoin (BTC) price trends.
Pseudonym Analyst Altcoin Sherpa To tell His 187,900 Twitter followers say Ethereum could fall 54% from its current price if another major event rocks the crypto market, such as a prominent company filing for bankruptcy. .
He says that there is still support above $900 levels but is waiting for the $500 range to break down.
ETH: Some high timeframe charts. If big players like GBTC (Grayscale Bitcoin Trust) sell, I think it will be something like $500-$700 Ethereum. Just psychological (numbers) I think bidding at $500 is appropriate if things don’t work out based on that, but we have a long way to go.”
At the time of writing, Ethereum is trading at $1,110.
Altcoin Sherpas then turn their attention to one of Ethereums top competitors, SOL.he To tell If current price levels do not hold, Solana could fall to $3.
SOL: If these current areas drop, $3 will be the next big area IMO (in my opinion). I think that is probably good for the ecosystem, but in the short term, this is still pretty dire.
At the time of writing, Solana is trading at $11.73 and has been hit hard by the collapse of crypto exchange FTX. The company’s CEO, Sam Bankman-Fried, is one of the top investors in the ecosystem and could be forced to liquidate his holdings in SOL as bankruptcy proceedings progress.
Altcoin Sherpa is also behind Bitcoin. say it BTC’s price may drop, but long-term opportunities are beginning to emerge.
Higher timeframe levels. $16,000/$14,000/$12,000 are all great long-term buying levels, and most investors simply apply DCA (dollar cost averaging) to these three levels. I think we’ll be fine, we’ll put a 30% buy on each of these and then a few years away and do a lot more.”
Bitcoin is trading at $16,086 at the time of writing.
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