Crypto Trader Says New All-Time Highs for Two Altcoins Incoming, Issues Warning on Solana
Popular crypto analyst Altcoin Sherpa names two altcoins he believes will soon soar to values last reached in 2022.
The pseudonymous analyst tells his 204,300 followers on the social media platform X that Stacks (STX) could soon soar beyond its recent high of $1.73, a level it hasn’t traded above in nearly two years.
“STX: All-time highs incoming.”
Stacks is a project that aims to enable smart contracts and decentralized finance (DeFi) applications on Bitcoin (BTC).
At time of writing, STX is trading for $1.61, up slightly in the last 24 hours. STX reached an all-time high (ATH) of $3.39 in December 2021.
The trader’s second bullish altcoin pick is Lido DAO (LDO), a crypto project that aims to allow users to stake Ethereum (ETH) without locking assets or maintaining infrastructure.
“LDO breaks ATH soon. One of the better ones.”
Looking at his chart, the trader suggests that LDO will soon break above the $3.89 level, which it last traded above in April 2022. LDO is trading for $3.28 at time of writing, down more than 2% in the last 24 hours. LDO reached an all-time high of $7.30 in August 2021.
Lastly, the trader warns that Solana (SOL) could soon decline to a price between the Fibonacci retracement levels of $84.50 and $71.67, after going on a massive rally that crossed the $120 level before dipping.
“SOL: in theory this should probably go up given all the liquidity that was collected. That said, I still think this one needs a bit of time to cool off. Wouldn’t be surprised to see this come down to lower levels like the $70-$80 again.”
Solana is trading for $102.42 at time of writing, up slightly in the last 24 hours.
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Featured Image: Shutterstock/VAlex/Mingirov Yuriy
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