A popular analyst is digging into the charts to set price targets for four crypto assets as the markets tumble.
The pseudonymous trader known as Altcoin Sherpa tells his 177,300 Twitter followers that he’s looking at leading smart contract platform Ethereum with one-week candles, and that the $500 to $800 range a possibility if ETH capitulates at $1,000.
“Some 1-week targets here. I think $1,000 is a solid short-term bottom for obvious reasons.
$800 would be the next area up, eventually $500 if things get bad.”
Ethereum is currently down 10% on the day and trading for $1,117.
Moving on to layer-1 blockchain Solana, the analyst thinks SOL might recapture some of its losses in the near term, but he still expects the altcoin to dip below $20.
“[In my opinion] current area is a good buy zone for a short-term bounce, would NOT get greedy and assume this is ‘the bottom’.
Bottom is probably sub-$20 if things continue lower.”
Solana is down nearly 5% today and changing hands for $29.34.
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