A closely tracked crypto strategist is outlining what\u2019s in store for leading smart contract platform Ethereum and two ETH challengers, including Solana (SOL).<\/p>\n
In a new strategy session, pseudonymous analyst Cred says<\/a> Ethereum might have printed a tradeable range provided that the bottom at $2,000 holds.<\/p>\n \u201cThis might be our range for some time. Support on the weekly at around $2,000. Maybe at this point, resistance will become relevant here at $2,500. Then the top of the range at $3,000. So if this is some sort of interim bottom, we\u2019re dealing with the range we have to trade is between $2,000 [and] $3,000, and $2,500 is the range midpoint\u2026<\/em><\/p>\n If stuff continues to bounce, if equities do well etc., the basic target for that would be from support to resistance.\u201d<\/em><\/p>\n At time of writing, Ethereum<\/a>\u00a0is trading at $2,094.<\/p>\n The next coin on the trader\u2019s radar is Solana, which he says is also trading in a big range that provides solid opportunities for market participants.<\/p>\n \u201cIf the markets bounce and we see strength and again a usual proviso of equity not shitting the bed, your short-term range in SOL is probably between mid-$40s and closer to $80. This is a pretty big range\u2026 My amazing math degree tells me that\u2019s a 2x and 100% gain sort of.\u201d<\/em><\/p>\n At time of writing, Solana<\/a>\u00a0is changing hands for $57.24.<\/p>\n The last coin on Cred\u2019s list is fellow smart contract platform Avalanche (AVAX). According to the crypto strategist, AVAX is also trading in a wide range but warns market participants that Avalanche can potentially deviate from the range and briefly trade above resistance or below support.<\/p>\n \u201cThe range high coming in at $40, and the range low coming in at $24\u2026 Similar to Solana, decent chart, good areas to trade. Buy support, sell resistance and not do a whole lot else. I do expect a bit of deviation, wickery type of stuff. If it goes above resistance, for example, I\u2019d expect a slight push higher than the exact level itself. <\/em><\/p>\n The same for support: if it goes to support, I\u2019d expect it to push a little bit below.\u201d\u00a0\u00a0<\/em><\/p>\n Avalanche<\/a>\u00a0is trading for $34.87 at time of writing.<\/p>\n![\"\"](\"https:\/\/dailyhodl.com\/wp-content\/uploads\/2022\/05\/Capture-15.png\")
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