Altcoins
Analyst Jason Pizzino names four strong altcoins in the market, including Solana (SOL) and Pepe (PEPE)
Crypto analyst Jason Pizzino says he is watching four altcoins showing signs of strength, including Solana (SOL) and the memecoin Pepe (PEPPER).
In a new strategy session, Pizzino tells its 327,000 YouTube subscribers who together with SOL and PEPE, the derivatives platform Pendle (PENDULUM) and decentralized GPU rendering blockchain Render (RNDR) have strong market structures.
According to Pizzino, Solana has an excellent relationship with the US dollar.
“Solana against the USD is holding up really well, here we can see the bottom and the 50% [retracement level] they’re back to $154, so still in a relatively strong position.”
Source: Jason Pizzino/YouTube
Solana trades for $162.09 at the time of writing, a decline of 3.3% over the past 24 hours.
Turning to PENDLE, Pizzino says the altcoin could be one of the strongest tokens during the next phase of the cycle.
“Pendle is still in a relatively strong position… I’m not suggesting it’s going to go up, it might take some time here, take a break, come back down and over. The main thing is that it’s still above this major 50%, potentially leading it to be a stronger altcoin in the next phase. If it breaks, weaker altcoin, it’s simple.”
Source: Jason Pizzino/YouTube
PENDLE is valued at $6.81 at the time of writing.
Pizzino then mentions RNDR, saying that the altcoin doesn’t look as strong as the rest of the pack, but that it is still holding up well against the US dollar.
“Still pretty decent on the chart at the moment and compared to the US dollar pair. I’m holding on here at $10, so I’m still holding up relatively well.”
Source: Jason Pizzino/YouTube
RNDR is trading for $10.08 at the time of writing.
Concluding his analysis with the meme asset Pepe, Pizzino states that the memecoin is in a clear uptrend that could present good trading opportunities.
“While [PEPE is] in short, it’s still a strong altcoin to take a look at… Earlier this month, when it started making higher and higher lows, it tested those highs and then took off from there, so [there are] great trading opportunities when you find strength in a market.
Source: Jason Pizzino/YouTube
PEPE is trading for $0.000016 at the time of writing.
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Featured image: Shutterstock/Yurchanka Siarhei