{"id":215902,"date":"2023-12-20T04:11:48","date_gmt":"2023-12-19T22:41:48","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=215902"},"modified":"2023-12-20T04:11:48","modified_gmt":"2023-12-19T22:41:48","slug":"trader-predicts-corrections-for-solana-and-additional-ethereum-rival-updates-outlook-on-one-dogecoin-competitor-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/trader-predicts-corrections-for-solana-and-additional-ethereum-rival-updates-outlook-on-one-dogecoin-competitor-crypto-news\/","title":{"rendered":"Trader Predicts Corrections for Solana and Additional Ethereum Rival, Updates Outlook on One Dogecoin Competitor – Crypto News"},"content":{"rendered":"

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A popular crypto analyst is predicting market corrections for\u00a0Solana (SOL<\/a>) and another one of Ethereum\u2019s (ETH<\/a>) biggest competitors.<\/p>\n

Pseudonymous trader Altcoin Sherpa tells<\/a> his 201,800 followers on the social media platform X that Solana is setting up to dip below $50, more than 31% from its current value.<\/p>\n

\u201cSOL: for traders, I think sub $50 is coming for Solana in the mid-term. <\/em><\/p>\n

For investors, SOL is going to go to much higher levels in the coming months, so probably just don\u2019t worry about it. I\u2019m going to just hold my SOL and chill.\u201d<\/em><\/p>\n

Source: Altcoin Sherpa\/X<\/figcaption><\/figure>\n

Using Fibonacci retracement levels, the trader suggests Solana may retest $48.71 before a bounce.<\/p>\n

Solana is trading for $73.37 at time of writing, up 2.6% in the last 24 hours.<\/p>\n

Next up, the trader predicts<\/a> that ETH rival Avalanche (AVAX<\/a>) will undergo a correction and revisit levels below $30 following its recent massive rally.<\/p>\n

\u201cAVAX: things are looking kind of toppy in the short term. Still bullish on this in the longer term for 2024 but wouldn\u2019t be surprised if this cools to sub $30.\u201d<\/em><\/p>\n

\"Image\"
Source: Altcoin Sherpa\/X<\/figcaption><\/figure>\n

Looking at the trader\u2019s chart, he appears to suggest that AVAX is about to lose key support around the $39 level.<\/p>\n

AVAX is trading for $39.88 at time of writing, up 1.3% in the last 24 hours.<\/p>\n

Lastly, the trader believes<\/a> that Dogecoin (DOGE<\/a>) rival Bonk (BONK<\/a>) is entering a distribution phase.<\/p>\n

\u201cBONK: not shorting this quite yet, wouldn\u2019t dismiss having some sort of scam pump on this one. That\u2019ll be the one to consider shorting, to be honest. I think that this is in its distribution phase for now though. Expecting the other memes like MYRO to die soon (for a while).\u201d<\/em><\/p>\n

\"Image\"
Source: Altcoin Sherpa\/X<\/figcaption><\/figure>\n

Bonk is trading for $0.00001918 at time of writing, down 0.8% in the last 24 hours.<\/p>\n

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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.<\/h6>\n<\/div>\n

Featured Image: Shutterstock\/IgorZh\/WhiteBarbie<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

A popular crypto analyst is predicting market corrections for\u00a0Solana (SOL) and another one of Ethereum\u2019s (ETH) biggest competitors. Pseudonymous trader Altcoin Sherpa tells his 201,800 followers on the social media platform X that Solana is setting up to dip below $50, more than 31% from its current value. \u201cSOL: for traders, I think sub $50 […]<\/p>\n","protected":false},"author":2,"featured_media":215903,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-215902","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/215902","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=215902"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/215902\/revisions"}],"predecessor-version":[{"id":215905,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/215902\/revisions\/215905"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/215903"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=215902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=215902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=215902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}