On Thursday, the cryptocurrency market saw some profit reserving, halting a two-day winning streak, with the selling pressure being more acute in altcoins. The global crypto market capitalization fell by more than 4% to $1.70 trillion.
In a new video, Altcoin Sherpa, a pseudonymous trader Predicts What’s In Store For SOL, AXS, LINK, KNC, and NEAR in Feb.
Solana (SOL)
Solana, one of the most popular ‘Ethereum killers,’ had a fantastic 2021, surging 10 times from $25 to $260. On the other hand, it has had severe corrections since being rejected from its all-time high in November and is currently buying and selling at about the $100 support in a parallel channel it has been creating since January. It’s also bumped up against a trendline resistance from December and has been rejected once more. As per the analyst, Solana Price will take another step down to about $65 before igniting a relief rally to his objective of $140.
Chainlink (LINK)
Chainlink, a decentralized oracle network, is another coin on the trader’s radar, which he thinks looks positive because it trades at a critical support level. He said that one could definitely just seek any dip for LINK and buy it. He believes we may see a return to the lower time frames, possibly to $15 or so, in the form of a double bottom. Given that it’s at range lows, there’s a lot of sell volume, and dips are being bought swiftly, this seems quite solid to me.
Axie Infinity (AXS)
Next up is Axie Infinity, a blockchain-based game (AXS). Axie Infinity is expected to rally strongly, according to Altcoin Sherpa, as the coin maintains support at $45. From $45 to $90, or any of these levels up [beyond $110], one can still hit a 2x or something like that. It’s probable that something will happen. While Altcoin Sherpa is bullish on AXS right now, he does not expect it to reach a new all-time high very soon.
Kyber Network Crystal (KNC)
It is an Ethereum-based cryptocurrency used to pay fees on the Kyber Network, is also on the analyst’s radar. KNC appears to be very strong right now, according to Altcoin Sherpa, despite the prevailing adverse trend in the crypto markets. When looking for resistance levels, He is pointing at something around $2.40.
NEAR
a developer-focused blockchain designed for scalability and reliability is the last coin on the analyst’s radar. The alt is expected to make one more downward move before rising to $14, according to Altcoin Sherpa. There’s a chance we’ll see the last shakeout to $8 or so, and I’ve placed a bid there. But, on the whole, this coin has held up well, and it appears to me to be a little better than many other coins right now.
