The altcoin market has experienced significant activity in recent days following the ETF news regarding Solana. Although the price increase in Solana led some investors to take profits, the market generally maintains an upward trend for the weekend. A green close this week or next week could trigger a strong rally. Altcoins are seeing strong momentum and a slow upward move in Bitcoin could lead to gains in the altcoin market.
The analyst is in favor of investing in those cryptos instead of Solana
The altcoin market had an eventful day yesterday, with the price rising significantly, especially following ETF news regarding Solana. This rise led some investors to sell profits. As the weekly close approaches, the market maintains its upward trend for the weekend. A green close this week or next week could trigger a strong rally. Altcoins are seeing strong momentum and a slow upward move in Bitcoin could lead to gains in the altcoin market. However, on Crypto Banter’s “The Sniper Trading Show” program, the analyst/investor explained his reasons for leaving Solana with strategic thinking. Solana used the excitement around him to profit and diversified into other altcoins that are currently showing strength and poised to rise.
The analyst noted that Polkadot is currently rising and Chainlink also looks strong. While Solana is experiencing a pause for a while, he aims to make a profit by directing his investments to these currencies. When Solana starts to rise again, he plans to invest again to increase his position. Clearly, he is not abandoning his long-term investment in Solana, but has exited his short-term trading positions. Then he bought Cardano at a higher price yesterday but managed to get better prices today. He finds Cardano suitable for trading and expects it to rise to around 44-45 cents, which will significantly increase his portfolio.
Chainlink’s strength and market position
The analyst began creating positions in Chainlink and Cardano. Since he sees Cardano starting to strengthen, he plans to trade for the next 10% profit. He bought at the bottom of the trend line for Cardano and plans to place his stop loss slightly lower. His strategy involves entering full positions before the market rises and being ready to take profits during the rise. A 10% move from Cardano and Chainlink is required to reach their next target.
This news offers investors opportunities to be active in the market. It is possible to use the excitement to profit from a popular altcoin like Solana. However, as the analyst noted, it is important to protect your long-term investments. In this case, he chose to take advantage of other opportunities by selling short-term trading positions while preserving his long-term investment in Solana. When we look at the analyst’s altcoin rotation, we see that he is turning to projects with upward potential such as Polkadot and Chainlink. This highlights the need for investors to make investment decisions by conducting market research, using technical analysis, and selecting strong projects. However, the price targets specified in the analysis should not be considered investment advice.
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