Altcoin Sherpa: TON to the Moon, SOL May Collapse, RNDR to Retest Fib Level, ETH to ATH

A widely followed trader and analyst says that blue skies are ahead for a large-cap altcoin even amid a marketwide correction.

A popular crypto strategist and trader is mapping out the next potential moves for several top crypto assets, including Solana (SOL) and Ethereum (ETH).

The pseudonymous analyst, known as Altcoin Sherpa, tells his 217,300 followers on social media platform X that layer-1 blockchain Toncoin (TON) is displaying strength on the higher time frames despite hitting an all-time high of $8.25 on June 14th.

“This still looks incredibly strong…

Toncoin: still one of the strongest charts in crypto.”

Next up, the analyst is warning that Solana (SOL) is on the cusp of crashing against Ethereum (SOL/ETH).

“SOL: although I still think Solana is a great retail chain, the current celeb meta is not healthy at all in my opinion. I think that this chart looks pretty scary and that ETH still probably will continue to outperform for this next stretch.”

At the time of writing, SOL/ETH is trading for 0.0409 ETH ($142), down more than 4.6% in the last 24 hours. According to the trader's chart, he anticipates SOL/ETH dropping to 0.039 ETH ($135).

Moving on, the analyst is eyeing a potential retest of the Fibonacci retracement level at $6.03 for the graphics processing unit (GPU) rendering blockchain Render (RNDR).

“RNDR: good project but I wouldn’t start scaling in until $7ish or lower. Could be a good buying area there.”

At the time of writing, RNDR is trading for $7.94, down more than 4% in the last 24 hours.

Lastly, the analyst predicts that Ethereum will print new all-time highs (ATH).

“ETH to ATH is still inevitable. I don’t know when or how it gets there but this supply zone is going to break eventually. Still seems like a guarantee and a fairly safe trade you can take (as long as you can eat the short-term drawdown).”

At the time of writing, Ethereum is trading for $3,479, up slightly in the last 24 hours. ETH last hit an all-time high of around $4,900 in November 2021.

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News source：https://www.kdj.com/cryptocurrencies-news/articles/altcoin-sherpa-ton-moon-sol-collapse-rndr-retest-fib-level-eth-ath.html

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