Trader Predicts Ethereum Rival That’s Surged Over 150% in a Month Will ‘Keep Going’, Updates Outlook on Bitcoin – Crypto News – Crypto News
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Trader Predicts Ethereum Rival That’s Surged Over 150% in a Month Will ‘Keep Going’, Updates Outlook on Bitcoin – Crypto News

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A popular crypto analyst is predicting that one red-hot Ethereum (ETH) competitor has more room to run as altcoins come alive.

Pseudonymous trader Altcoin Sherpa tells his 197,900 followers on the social media platform X that Avalanche (AVAX) could soar more than 30% from its current value.

“AVAX: huge moves [November 15th]. I think that this is a scary area but given the overall momentum, it’ll probably keep going. Mid-$20s should be next up, if it can clear this current region.”

Source: Altcoin Sherpa/X

The trader’s chart suggests AVAX could cross a key level at $21.17 and face resistance at around $22. AVAX later broke past $22, and the trader updated his outlook to say that the $29.33 level was now within reach.

“AVAX: Strong f-ing run here, goes to show that even dead forgotten chains can have their moments. $29 is the next target if price can remain above this current level.”

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Source: Altcoin Sherpa/X

AVAX is trading for $22.49 at time of writing, up 11.7% in the last 24 hours, a more than 150% gain since closing at $8.91 on October 19th.

Next, the trader says that Bitcoin (BTC) is probably heading down to the $35,000 level after failing to cross $38,000.

“BTC: really key area here at this $38,000. It’s quite simple in my opinion: this teleports past $40,000 if we can break this area strongly. If it comes down (probably a higher likelihood), it goes right back to $35,000 in my opinion.”

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Source: Altcoin Sherpa/X

Bitcoin is trading for $36,589 at time of writing.

Lastly, the trader says that decentralized oracle network Chainlink (LINK) will likely retest lower Fibonacci levels after soaring in recent weeks.

“LINK: best still to remain patient on this one. $12.50 and $11.50 are my areas of interest.”

Image
Source: Altcoin Sherpa/X

Chainlink is trading for $14.10 at time of writing, down 5.4% in the last 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Itsanan

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