As the cryptocurrency markets continue to experience remarkable developments, Altcoin Sherpa, a popular analyst, announced the list of altcoins that he expects to rise along with Solana (SOL). Addressing his 217,900 followers on social media platform X, the analyst predicts that Solana has a healthy market structure and will make a big exit in the last quarter of the year.
Solana’s Healthy Market Structure and Expected Rise in Altcoins Project
Altcoin Sherpa notes that Solana’s current market structure is quite healthy, emphasizing that the price is defending in a more balanced way compared to its rapid rise between $20-200 in 2021. The analyst says Solana has found strong support around the key levels of $130, and the overall Bitcoin market is also in a healthier state.
Sherpa thinks Solana will fluctuate in the range of $ 120-170 and then enter a strong uptrend in the last quarter of the year. Although Solana, whose current price is $ 136, has dropped close to 3 percent in the last 24 hours, the analyst states that these declines could be an opportunity for recovery in the long term.
Fall Expectation for Celestia
Another cryptocurrency that the analyst draws attention to is Celestia (TIA). Sherpa predicts that Celestia could fall as low as $ 5.80 at the Fibonacci retracement level and this level could be tested. TIA’s current value is $ 6.38 and has fallen 7 percent in the last 24 hours.
Sherpa states that with this decline, Celestia can test the support level, which he describes as a green box, and patiently waits for this level to fill. The analyst believes that Celestia could rebound in the long term.
Long-term Recovery Expectation in Render
Finally, the analyst also has a positive forecast for Render (RNDR). Stating that Render, as a graphics processing unit (GPU) based blockchain platform, is in the lower region of the current market structure, Sherpa emphasizes that the price is below the 200-day exponential moving average (EMA) but finds support at .618, an important Fibonacci zone.
Predicting that Render will consolidate in the $6.10-$7.50 range and may form a long-term bottom in this range, the analyst notes that the current price is $6.03 and has experienced a 6.7% decline in the last 24 hours. Sherpa thinks that this consolidation process could create a long-term recovery opportunity for Render.
General Market Situation, Future Prospects and Altcoins
Altcoin Sherpa’s assessments reveal the volatile nature of the cryptocurrency markets and the key levels investors should watch out for. Analyses of Solana, Celestia and Render provide important clues that despite short-term volatility, these cryptocurrencies are likely to rebound strongly in the long term. The expectation that Solana will make a strong exit in the last quarter of the year offers an exciting opportunity for investors.
Likewise, the predictions that Celestia and Render can hold at certain support levels and recover in the long term show that these altcoin projects are important assets to follow. According to the analyst, watching the market movements of important cryptocurrencies such as Solana, Celestia and Render can offer investors lucrative opportunities in the long run. However, as we at Kriptokoin.com have reported, investors need to be careful and scrutinize the projects carefully.
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