- Altcoin Sherpa, a seasoned crypto analyst, shares his thoughts on Chainlink (LINK), Avalanche (AVAX), and Fantom (FTM).
- Despite its long-term potential, Chainlink has yet to deliver the expected performance, according to the analyst.
- Altcoin Sherpa suggests that AVAX is retesting a significant bottom level, while FTM is poised to retest the $0.202 level.
Renowned crypto analyst, Altcoin Sherpa, provides a comprehensive analysis of Chainlink, Avalanche, and Fantom, revealing their current market positions and future potential.
Altcoin Sherpa’s Evaluation of Chainlink (LINK)
Altcoin Sherpa, an anonymous crypto analyst, suggests that it may take months for Chainlink, a blockchain oracle network, to break out of its current trading range. Despite being one of the best coins in terms of overall crypto infrastructure, Chainlink has yet to live up to expectations. The analyst suggests considering a long-term investment strategy for Chainlink, buying now and selling at a much higher price in the future.
Looking at the LINK chart shared by the analyst, it’s clear that the altcoin has been trading within a range since May 2022, with a peak at $9.33 and a bottom at $5.53. According to CoinMarketCap data, LINK is currently trading at $6.27, a 1.19% decrease in the last 24 hours. This shows that the blockchain oracle network’s local asset is 88% below its all-time high (ATH) of $52.88, achieved on May 10, 2021.
Other Altcoins on the Analyst’s Radar: AVAX and FTM
Altcoin Sherpa also predicts that some Layer 1 projects, which have lost significance during the current crypto cycle, will trade at higher values than their current prices a year from now. The analyst focuses on Avalanche (AVAX), a strong competitor to Ethereum (ETH), and his chart shows that AVAX is retesting its potential bottom level of $9.82. AVAX is currently trading at $9.90, a 1.89% decrease in the last 24 hours.
Following AVAX, the analyst turns his attention to the smart contract platform Fantom (FTM). He expects the altcoin to bounce back after touching the $0.202 level, which it last retested about a year ago. FTM is currently trading at $0.2013, a 1.78% decrease in the last 24 hours.
Conclusion
In conclusion, Altcoin Sherpa provides an insightful analysis of Chainlink, Avalanche, and Fantom. While Chainlink has yet to deliver the expected performance, it holds long-term potential. Meanwhile, both AVAX and FTM are retesting significant levels, suggesting potential future growth.
