Altcoins
Trader Says Top 10 Altcoins to Have Strong Run in Q4, Updates Forecast on Celestia and Render
A well-known cryptocurrency trader and analyst thinks that Ethereum (ETH) his rival is preparing for a grand finale in 2024.
The pseudonymous analyst known as Altcoin Sherpa tells his 217,900 followers on the social media platform X that Solana (SOL) has a healthy market structure and is expected to rise to the top 10 altcoins before the end of the year.
“SOL seems to me more like the green box than the red one. The reason is mainly due to:
- Previous price action (the run from $20 to $200 was very different in 2021 than in 2024).
- This time more defense of key levels, namely $130.
- Overall, the Bitcoin (BTC) market is obviously in a much healthier situation.
So yeah, I still see SOL as mostly healthy here. While something like $100 could still come in on a flush, I still expect the price to mostly trade down between $120-$170 for a while and then a strong run in Q4. In other words, I don’t think it’s “over.”
Source: Altcoin Sherpa/X
At the time of writing, Solana is trading at $136, down nearly 3% in the last 24 hours.
Next up is the analyst He says that the native asset of the modular blockchain network Celestia (HI) could retest a Fibonacci retracement level at $5.80, a drop of more than 9% from the current value.
“TIA: I would like to fill in the green box, please bear with me for now.”
Source: Altcoin Sherpa/X
At the time of writing, TIA is trading at $6.38, down nearly 7% in the last 24 hours.
Finally, the analyst He says that Render (RNDR), the graphics processing unit (GPU) rendering blockchain, may hit a market low and may start consolidating in a range between $6.10 and $7.50.
“RNDR is still below the 200-day EMA, but in a key Fibonacci region at .618. A further break between here and $7.50 seems reasonable to form a long-term bottom.”
Source: Altcoin Sherpa/X
At the time of writing, Render is trading at $6.03, down 6.7% in the last 24 hours.
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