Trader Believes Top-10 Altcoin Shows ‘Significant Strength,’ Provides Updates on Ethereum, Solana, and Render

Altcoin Sherpa, a popular trader and analyst in the crypto space, predicts a bright future for Toncoin (TON) despite a marketwide correction. TON, the native token of layer-1 blockchain Toncoin, hit an all-time high of $8.25 on June 14th. Altcoin Sherpa believes that TON is still incredibly strong and one of the best charts in the crypto market. Currently, TON is trading at $8.10, up over 3% in the last 24 hours.

On the other hand, Altcoin Sherpa expresses concern about Solana (SOL) potentially collapsing against Ethereum (ETH). While he acknowledges that Solana is a great retail chain, he believes that the current celebrity-driven trend is not healthy. SOL/ETH is currently trading at 0.0409 ETH ($142), down more than 4.6% in the last 24 hours. Altcoin Sherpa suggests that SOL/ETH could decline further to 0.039 ETH ($135).

In another analysis, Altcoin Sherpa discusses the potential of the graphics processing unit (GPU) rendering blockchain Render (RNDR). He believes that RNDR could retest the Fibonacci retracement level at $6.03. Despite being a good project, Altcoin Sherpa advises caution and recommends waiting until RNDR reaches around $7 before considering buying in. RNDR is currently trading at $7.94, down more than 4% in the last 24 hours.

Lastly, Altcoin Sherpa predicts new all-time highs for Ethereum (ETH). He is confident that ETH will eventually break through its supply zone and reach new ATHs. Ethereum is currently trading at $3,479, slightly up in the last 24 hours. In November 2021, ETH reached an ATH of about $4,900. Altcoin Sherpa believes that ETH is a fairly safe trade to take, despite potential short-term drawdowns.

Overall, Altcoin Sherpa’s analysis provides insights into the trends and potential opportunities in the crypto market. While he remains bullish on TON and Ethereum, he expresses caution regarding SOL and suggests waiting for a better entry point for RNDR. As always, it’s important for investors to do their own research and consider their risk tolerance before making any investment decisions in the volatile crypto market.