Will these altcoins soon break all-time highs? Top analyst says Solana will hit $900
Release: 2024/06/08 15:29 Reading: 734
Top Analyst Predicts All-Time Highs for Altcoins: Solana to Reach $900
According to the analyst on Crypto Banter's "The Sniper Trading Show," it's crucial to determine exit points for altcoins, as not all will achieve all-time highs. Bitcoin's initial dominance played a role, followed by Ethereum and altcoins, with retail investors contributing to significant hype.
The analyst identified Solana (SOL), Avalanche (AVAX), Injective (INJ), ThorChain (RUNE), and Dogecoin (DOGE) as altcoins likely to break all-time highs. Solana's targets are set at $400, $650, and $900, with the trend indicating potential for these levels without setbacks.
Avalanche has an initial target of $100, potentially reaching $240 with resistance breakouts. Profit-taking is advisable at these stages. Injective's targets range from $40 to $50, with previous highs at $70 and $93 as milestones. Profit-taking is also recommended as these levels approach.
ThorChain is expected to reach $14, with further targets at $33, $53, and $73 if resistance is broken. Dogecoin may not achieve all-time highs in this cycle but is considered a sound investment at current levels, with potential gains of approximately 200%. Profit-taking should be considered if key resistance levels are approached.
The analyst emphasizes the importance of assessing tokens based on their performance during bear markets, as their true value emerges after the hype subsides. Tokens typically witness pullbacks of 80-90% during bear markets, revealing their intrinsic valuation. Profit-taking during market peaks is crucial to minimize losses during market corrections.
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