Altcoin Sherpa Predicts All-Time Highs for Two Altcoins
Crypto analyst Altcoin Sherpa has identified two altcoins that he believes will soon reach new all-time highs. In a tweet, the analyst suggests that Stacks (STX) and Lido DAO (LDO) are poised for significant price increases.
Stacks (STX) Set to Reach New Heights
Altcoin Sherpa predicts that Stacks (STX), a project aiming to enable smart contracts and decentralized finance applications on Bitcoin, will soon surpass its previous high of $1.73. The cryptocurrency is currently trading at $1.61 and reached an all-time high of $3.39 in December 2021.
Lido DAO (LDO) Could Break Previous High
Lido DAO (LDO), a crypto project that allows users to stake Ethereum without locking assets or maintaining infrastructure, is also expected to see a price surge. Altcoin Sherpa suggests that LDO will break above the $3.89 level, which it last traded above in April 2022. Currently, LDO is trading at $3.28, down more than 2% in the last 24 hours.
Warning on Solana (SOL)
While Altcoin Sherpa remains optimistic about Stacks and Lido DAO, the analyst issues a cautionary note regarding Solana (SOL). After a significant rally that pushed the price above $120, SOL could potentially decline to levels between $84.50 and $71.67 according to Fibonacci retracement levels. At present, SOL is trading at $102.42.
Hot Take: Opportunities and Risks in Altcoin Trading
Altcoin Sherpa’s predictions highlight the potential for significant gains in the altcoin market. However, it’s important to remember that trading altcoins also carries risks. While Stacks and Lido DAO show promise, Solana’s potential decline serves as a reminder of the volatility in the crypto market. As always, do thorough research and consider your risk tolerance before making investment decisions.
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