Altcoin Sherpa, a well-known trader and analyst, is optimistic about the future of a large-cap altcoin despite a marketwide correction. With a following of 217,300 on X, Altcoin Sherpa, a pseudonymous figure, believes that Toncoin (TON), the native token of layer-1 blockchain, is on a strong upward trend following its all-time high of $8.25 on June 14th. The chart for TON still looks incredibly strong, making it one of the most robust charts in the crypto space.

Toncoin is currently trading at $8.10, showing an increase of over 3% in the last 24 hours. However, Altcoin Sherpa warns that Solana (SOL) may face a collapse against Ethereum (SOL/ETH). Despite Solana being a strong retail chain, the analyst believes that the current hype surrounding it is unhealthy. According to Altcoin Sherpa, the chart for SOL/ETH looks concerning, and Ethereum is likely to continue outperforming in the near future.

The analyst also suggests that the blockchain Render (RNDR), which focuses on graphics processing unit (GPU) rendering, could retest the Fibonacci retracement level at $6.03. While RNDR is currently trading at $7.94, down more than 4% in the last 24 hours, Altcoin Sherpa advises waiting until it reaches around $7 or lower before considering buying in.

Lastly, Altcoin Sherpa predicts that Ethereum will reach new all-time highs. Despite trading at $3,479 at the moment, slightly up in the last 24 hours, Altcoin Sherpa believes that Ethereum will eventually break through the supply zone and reach new ATHs. Ethereum previously reached an ATH of around $4,900 in November 2021.

In conclusion, Altcoin Sherpa remains optimistic about the future of these cryptocurrencies but advises caution and thorough research before making any high-risk investments. It is essential for investors to be aware of the risks involved in trading digital assets and to make informed decisions. Subscribe to The Daily Hodl for more updates on price action and stay informed about the latest developments in the crypto space.