Analyst Predicts Continued Surge for Ethereum Competitor
An analyst has made a prediction that an Ethereum competitor is set to continue its surge as altcoins become more active. The pseudonymous trader, Altcoin Sherpa, with a huge following on X social media platform, has stated that Avalanche (AVAX) could increase by over 30% from its current value.
The trader’s chart indicates that AVAX might surpass a key level at $21.17 and face resistance around $22. AVAX has already broken past $22, and the trader updated the outlook to suggest that the $29.33 level is now within reach.
At the time of writing, AVAX is trading for $22.49, which marks an 11.7% increase in the last 24 hours and a gain of over 150% since October 19th when it closed at $8.91.
The trader also predicts that Bitcoin (BTC) is likely headed down to the $35,000 level after failing to cross $38,000. At the time of writing, Bitcoin is trading for $36,589.
Finally, the trader suggests that Chainlink (LINK) will probably retest lower Fibonacci levels after experiencing significant growth in recent weeks. At the time of writing, Chainlink is trading for $14.10, down 5.4% in the last 24 hours.
Hot Take
This analyst’s predictions indicate potential price movements for AVAX, BTC, and LINK in the near future based on their recent performance.
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