Altcoin Sherpa, a well-known crypto strategist, is anticipating a significant surge in the value of Solana (SOL), a competitor to Ethereum (ETH), later this year. With a social media following of 215,500, Altcoin Sherpa suggests that SOL could experience a staggering 267% increase from its current price.

In a recent post on the platform X, Altcoin Sherpa shares his opinion on SOL, stating, “Averaging into SOL is always a smart move in my book. I believe it will reach $500 or even higher by the end of the year. Buying in the range of $130 to $110 would be a great opportunity, although I don’t expect it to drop that low just yet.”

Analyzing the trader’s chart, it is clear that he is closely monitoring two Fibonacci levels, namely $138 and $116, as potential points for a retest.

At the time of writing, Solana is trading at $136, experiencing a 5.54% decline in the last 24 hours.

Moving on to the trader’s predictions for Fetch.ai (FET) and Render (RNDR), two projects related to artificial intelligence (AI), Altcoin Sherpa believes that these coins may retrace to lower Fibonacci levels in the near future before embarking on significant rallies.

He mentions, “If BTC continues to demonstrate a price action of bleeding or chopping, there will likely be some excellent buying opportunities for AI coins like FET and RNDR in the coming weeks or months. In my opinion, it would be wise to start accumulating at the 0.50 Fibonacci level and potentially go down to 0.618.”

According to his chart, Altcoin Sherpa suggests that FET may dip as low as $1.45, while RNDR may reach around the 200-day exponential moving average (EMA) at approximately $6.

As of now, FET is trading at $2.11, showing a decline of over 7% in the last 24 hours. Similarly, RNDR is trading at $7.95, also experiencing a decline of more than 7%.

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It is important to note that the opinions expressed in this article are not investment advice, and investors should conduct their own research before engaging in high-risk investments involving cryptocurrencies or digital assets. Transfers and trades are done at one’s own risk, and any incurred losses are the individual’s responsibility. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets and is not an investment advisor. Please be aware that The Daily Hodl engages in affiliate marketing.

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