the market for cryptocurrencies remains down, in the face of an unfavorable macroeconomic scenario, as well as the crises of certain crypto projects and companies such as Terra (LUNA), Celsius and Three Arrow Capital.
Given this, cryptocurrencies are seeing double-digit devaluations in the past week.
This is the case of Solana (SOL), Binance Coin (BNB) and Avalanche (AVAX), which have fallen by 18%, 26% and 30% respectively in the last 7 days.
Now, cryptocurrency analyst and trader known as Altcoin Sherpa is sharing his future predictions for these three cryptocurrencies.
As he told his 177,500+ Twitter followers, SOL and BNB are the only digital assets he wants to hold amid market volatility.
“These are honestly the only two that interest me in the medium term. I think they will survive and do just fine. I pay attention to the currencies I want to hold in the medium term,” he said.
First, Altcoin Sherpa talked about Solana, which has fallen less than 1% in the past 24 hours. At the time of writing, SOL is priced at $31.06.
According to the trader, Solana is likely to recover. Additionally, he said he sees good entry points for SOL between $15 and $25.
“Despite its flaws, I still think it’s one of the best non-EVM channels [Ethereum Virtual Machine] who exist. Things like ATOM and DOT are cool. But I think Solana has a chance of surviving a few cycles. Entrance: anywhere between 15 and 25 seems sufficient”, tweeted share the graphic below.
The trader further pointed out that in his opinion, the bottom of the SOL has not yet arrived and is likely below $20 “if things continue to deteriorate”.
Binance Coin (BNB)
The trader also said he was buying more BNB. It is because he remains convinced that the Binance will continue to support the crypto asset.
At the time of writing, each BNB token is priced at $215.15, having been relatively stable over the past 24 hours.
“BNB led the last downtrend cycle. I don’t think CZ [Changpeng Zhao, CEO da Binance] will let him die. Binance is still the best CEX [exchange centralizada] and BNB still has a use on BSC [Binance Smart Chain]”, he stated.
Altcoin Sherpa further stated that they consider the token to be “safe” in this scenario.
“I already have a few, but I will buy more. Aim here for $140 if things go wrong,” he wrote, sharing the chart below.
Finally, AVAX, from the Avalanche network, is on the list of cryptocurrencies that Altcoin Sherpa intends to buy if prices fall further. The others are: NEAR, AAVE and APE.
Specifically about AVAX, the trader said it was a good layer 1 alternative and a “decent” project. At the time of writing, the token is priced around $16.
However, the trader believes that the price of the token will drop further to $10.
—Altcoin Sherpa (@AltcoinSherpa) June 15, 2022
“$AVAX: some targets. Longer term, I think $10 will eventually be saved.