A closely followed crypto trader is predicting a rally in smart contract platform Avalanche (AVAX) and two more altcoins, and also says that the bottom is in for Ethereum (ETH).
The pseudonymous trader known as Altcoin Sherpa tells his 128,000 followers on Twitter that he has his eye on AVAX, and even though the crypto is already up nearly 2,300% since December, he still sees an additional 40% run-up on the horizon.
“$AVAX: Still 1 of my biggest bags, market structure is still bullish from what I can see. Still targeting $100 in the coming weeks. We’ll see if L1s continue though.”
Next up is WOO Network (WOO), a liquidity network meant to connect traders, exchanges, and others in the space with “democratized liquidity.”
WOO is already up over 45% in the last 24 hours at the time of writing, but Altcoin Sherpa thinks a rally to $1.00 – about 31% from current prices – is still a reasonable expectation.
“$WOO: Long term bag of this, I’ll continue to HODL. If it cleanly breaks here, I target $1ish.”
The third crypto on Altcoin Sherpa’s radar is open-source decentralized blockchain Tezos (XTZ). The trader says that Tezos is likely to smash through resistance around $8.00 in the coming months to make new all-time highs.
“$XTZ: It’s still resistance but I think that a breakthrough seems likely (as long as btc holds up)”
As for Ethereum, the crypto trader says ETH may dip down to touch the 200-day exponential moving average (EMA), currently around $2570, but should see little resistance afterward.
“$ETH: I think short-term bottom is mostly in. Maybe tap of the 200D EMA but let’s go up now.”