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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