Image default
Altcoin

Ethereum Competitors Terra (LUNA), Solana (SOL) and Avalanche (AVAX) on the Cusp of Breakouts: Crypto Analyst

A preferred crypto analyst is giving a bullish forecast for Ethereum rivals Solana (SOL), Avalanche (AVAX) and Terra (LUNA).

In a brand new video, the host of monetary schooling YouTube channel InvestAnswers says that Solana may very well be on the brink of reclaiming the three-digit price degree because it flashes a powerful bullish sign. 

There’s so much of robust bullish divergence seen in the chart right here. If you have a look at the RSI (relative power index) at the backside, you possibly can see the bullish divergence from the price motion and that compression wedge that we see…

Solana’s price motion seems to be creating not solely this bullish divergence from the RSI inside the identical timeframe, but it surely’s solely a matter of time that many imagine we might get again to $120… This is a really, very optimistic chart giving so much of optimistic outlook for the price motion of Solana.”

Source: InvestAnswers/YouTube

Solana is at the moment buying and selling at $88.38.

The analyst can also be holding a detailed watch on sensible contract platform Avalanche, which he says is now at a degree the place bulls will possible take management of the market. 

“This one is seeing a similar type of a compression chart downwards action, but on the cusp of breaking out, and you can see that the price has been stuck in this descending triangle. It has had a really impressive recovery since March 15th and in fact, it’s still within the broader descending triangle, but the suggestion is it might be a good breakout or could it be a bull trap.”

Source: InvestAnswers/YouTube

At time of writing, Avalanche is exchanging palms for $85.96.

As for Terra, the crypto analyst says that the Ethereum challenger’s Sharpe ratio signifies a powerful bullish outlook.

“You all the time need your Sharpe ratio to be above 0.5…  If you might be at one, it’s a excellent outcome and it means you might be crushing the market, you’re beating every thing on the market…

The LUNA Sharpe ratio is 4.36. It’s off the charts optimistic. This factor is only a beast and there’s many individuals calling for a $200 Luna in in the close to time period, but in addition probably, $200 Avalanche, $200 SOL. Either approach these three are variety of winners proper now.”

I

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto e mail alerts delivered on to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp
Check Latest News Headlines

 

Disclaimer: Opinions expressed at The Daily Hodl will not be funding recommendation. Investors ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your individual threat, and any loses chances are you’ll incur are your accountability. The Daily Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Daily Hodl an funding advisor. Please observe that The Daily Hodl participates in online marketing.

Featured Image: Shutterstock/SimpleB/Nikelser Kate

Related posts

Here’s What’s Next for Bitcoin, Ethereum, XRP and Two Additional Altcoins, According to Analyst Michaël van de Poppe

Crypto Advisor

Traders Continue Holding Cardano (ADA) and Chainlink (LINK) Amid Crypto Downturn: Analytics Firm IntoTheBlock

Crypto Advisor

New Ethereum Competitor Surges After Surprise Listing on Leading Crypto Exchange Binance

Crypto Advisor

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

bitcoin
Bitcoin (BTC) $ 19,184.23 0.83%
ethereum
Ethereum (ETH) $ 1,318.01 0.85%
tether
Tether (USDT) $ 1.00 0.24%
usd-coin
USD Coin (USDC) $ 1.00 0.23%
bnb
BNB (BNB) $ 277.13 1.09%
binance-usd
Binance USD (BUSD) $ 1.00 0.24%
cardano
Cardano (ADA) $ 0.462831 1.24%
xrp
XRP (XRP) $ 0.506486 4.98%
polkadot
Polkadot (DOT) $ 6.43 0.36%
solana
Solana (SOL) $ 33.61 3.74%
shiba-inu
Shiba Inu (SHIB) $ 0.000011 2.11%
dogecoin
Dogecoin (DOGE) $ 0.064751 8.24%
staked-ether
Lido Staked Ether (STETH) $ 1,311.49 0.66%
matic-network
Polygon (MATIC) $ 0.770667 1.41%
tron
TRON (TRX) $ 0.060506 0.21%
dai
Dai (DAI) $ 1.00 0.04%
avalanche-2
Avalanche (AVAX) $ 17.88 0.75%
ethereum-classic
Ethereum Classic (ETC) $ 28.74 0.50%
leo-token
LEO Token (LEO) $ 4.16 15.48%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 19,202.09 0.55%
uniswap
Uniswap (UNI) $ 5.95 3.34%
litecoin
Litecoin (LTC) $ 55.04 3.33%
cosmos
Cosmos Hub (ATOM) $ 14.00 5.35%
okb
OKB (OKB) $ 14.93 0.81%
ftx-token
FTX (FTT) $ 23.80 0.48%
terra-luna
Terra Luna Classic (LUNC) $ 0.000261 3.46%
near
NEAR Protocol (NEAR) $ 3.79 2.18%
chainlink
Chainlink (LINK) $ 7.42 4.98%
crypto-com-chain
Cronos (CRO) $ 0.123932 12.98%
monero
Monero (XMR) $ 141.37 2.31%
stellar
Stellar (XLM) $ 0.124024 1.28%
bitcoin-cash
Bitcoin Cash (BCH) $ 119.34 2.91%
algorand
Algorand (ALGO) $ 0.393235 6.52%
flow
Flow (FLOW) $ 1.73 0.34%
vechain
VeChain (VET) $ 0.023261 1.20%
eos
EOS (EOS) $ 1.22 0.57%
internet-computer
Internet Computer (ICP) $ 6.20 2.08%
filecoin
Filecoin (FIL) $ 5.75 4.12%
chain-2
Chain (XCN) $ 0.078223 4.02%
frax
Frax (FRAX) $ 1.00 0.48%
hedera-hashgraph
Hedera (HBAR) $ 0.061457 2.06%
decentraland
Decentraland (MANA) $ 0.726185 0.32%
apecoin
ApeCoin (APE) $ 5.63 6.22%
the-sandbox
The Sandbox (SAND) $ 0.931362 4.29%
tezos
Tezos (XTZ) $ 1.52 1.13%
quant-network
Quant (QNT) $ 111.70 5.74%
axie-infinity
Axie Infinity (AXS) $ 13.54 9.59%
aave
Aave (AAVE) $ 76.75 0.14%
lido-dao
Lido DAO (LDO) $ 1.75 3.13%
elrond-erd-2
Elrond (EGLD) $ 47.91 0.42%
theta-token
Theta Network (THETA) $ 1.14 0.02%
true-usd
TrueUSD (TUSD) $ 1.00 0.31%
chiliz
Chiliz (CHZ) $ 0.269146 1.96%
bitcoin-sv
Bitcoin SV (BSV) $ 50.09 0.61%
compound-usd-coin
cUSDC (CUSDC) $ 0.022719 0.10%
paxos-standard
Pax Dollar (USDP) $ 1.00 0.33%
kucoin-shares
KuCoin (KCS) $ 9.00 0.72%
bittorrent
BitTorrent (BTT) $ 0.00000079692652 0.31%
ecash
eCash (XEC) $ 0.00004 0.49%
the-graph
The Graph (GRT) $ 0.103495 2.38%
iota
IOTA (MIOTA) $ 0.284636 4.16%
zcash
Zcash (ZEC) $ 56.41 0.78%
huobi-btc
Huobi BTC (HBTC) $ 19,190.09 0.56%
usdd
USDD (USDD) $ 1.00 0.20%
huobi-token
Huobi (HT) $ 4.56 0.57%
evmos
Evmos (EVMOS) $ 2.12 10.61%
havven
Synthetix Network (SNX) $ 2.49 0.82%
cdai
cDAI (CDAI) $ 0.022111 0.04%
maker
Maker (MKR) $ 673.48 3.85%
bitdao
BitDAO (BIT) $ 0.492786 0.28%
klay-token
Klaytn (KLAY) $ 0.207293 1.15%
neutrino
Neutrino USD (USDN) $ 0.962334 0.87%
fantom
Fantom (FTM) $ 0.234163 0.54%
compound-ether
cETH (CETH) $ 26.71 0.00%
neo
NEO (NEO) $ 8.58 1.26%
helium
Helium (HNT) $ 4.98 7.30%
gatechain-token
Gate (GT) $ 4.19 1.66%
defichain
DeFiChain (DFI) $ 0.815685 1.59%
radix
Radix (XRD) $ 0.060282 1.41%
celsius-degree-token
Celsius Network (CEL) $ 1.57 1.63%
pax-gold
PAX Gold (PAXG) $ 1,639.91 1.62%
pancakeswap-token
PancakeSwap (CAKE) $ 4.52 1.31%
thorchain
THORChain (RUNE) $ 1.64 0.01%
osmosis
Osmosis (OSMO) $ 1.22 2.26%
zilliqa
Zilliqa (ZIL) $ 0.032956 0.93%
enjincoin
Enjin Coin (ENJ) $ 0.483501 0.12%
nexo
NEXO (NEXO) $ 0.969999 2.44%
arweave
Arweave (AR) $ 10.31 1.82%