A widely followed crypto trader is predicting more rallies for smart contract protocol Avalanche (AVAX) and artificial intelligence (AI)-focused altcoin Fetch.ai (FET).
Pseudonymous analyst Altcoin Sherpa tells his 201,600 followers on the social media platform X that Avalanche is likely not yet done rallying.
The trader shares a chart that shows AVAX breaking out of its resistance at $39 on the weekly chart.
“AVAX: I don’t know why this is moving so hard, but it’s pretty incredible to see this in the midst of all the new layer-1s/layer-2s available. AVAX has outperformed many of the hot shiny new chains during this run. $55 and $60 are up next, in my opinion.”
At time of writing, AVAX is worth $39.63.
Looking at the decentralized machine-learning network Fetch.ai, Altcoin Sherpa thinks that FET is also on the up and up. According to the analyst, FET could rise over 40% from current prices.
“FET: currently level is interesting but I am still not going to be buying around here. I’m still looking for my main AI play for this cycle to be honest. I have other bags and narratives packed but not this one (yet). $0.90 seems likely in the mid-term to be honest.”
At time of writing, FET is trading for $0.64.
The last altcoin on the trader’s radar is the native asset of the blockchain-based gaming network Beam (BEAMX). Altcoin Sherpa says he’s waiting for BEAMX to drop a bit lower before taking interest in the altcoin.
“BEAM: nice pullback for those who are interested in getting in soon. I think BEAM is a great index for web3 gaming overall. I have a bag and will be holding it for a while. I think that the $0.016 area is interesting….0.50 Fibonacci level of the entire move. Would be looking there.”
At time of writing, BEAM is trading for $0.019.
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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…
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