Analyst Expects Significant Rally for Ethereum Competitor, Identifies Strong Altcoin Amidst Crypto Volatility
A well-known crypto strategist has predicted that one of Ethereum’s (ETH) competitors is poised to experience a more than 100% increase in value this year. Altcoin Sherpa, a pseudonymous analyst with a large following on social media, believes that Solana (SOL) will reach new all-time highs in the near future. Despite his long-term bullish stance on SOL, the strategist anticipates a minor pullback before it embarks on another upward trend.
Altcoin Sherpa explains, “There is probably going to be a pullback in the range of $200-$250, but I cannot ascertain its depth. Nevertheless, I remain extremely optimistic about this one in the current cycle, as it has proven to be the best chain for retail traders (as seen through memes). I expect it to exceed $500 by 2024.”
As of now, SOL is valued at $187.90, exhibiting a decrease of over 6% in the past 24 hours.
Additionally, Altcoin Sherpa highlights RSS3, a decentralized information processing protocol, which seems to be trading within a specific range, encompassing a upper limit of $0.57 and a lower limit of $0.40. Despite the market’s volatility, the analyst describes RSS3 as a “super strong coin” and affirms his investment in it.
RSS3 is currently priced at $0.448, showing a decline of 15.4% in the last day.
Lastly, Altcoin Sherpa expresses optimism towards Ondo Finance (ONDO), a project focused on tokenizing real-world assets (RWAs), such as short-term bonds and US Treasuries. The strategist recommends purchasing ONDO at around $0.43, emphasizing the asset’s potential for financial freedom and regarding it as one of his preferred investments in real-world assets for this market cycle.
As of writing, ONDO is trading at $0.422, experiencing a decrease of more than 12% in the last 24 hours.
The cryptocurrency market remains highly volatile, and investors should exercise caution when considering these predictions.
[Source: Altcoin Sherpa/X]