As uncertainties within the cryptocurrency market escalate, analysts continue to scrutinize altcoins with a positive perspective. Recently, Bitcoin’s price dropped to $65,000 following the release of U.S. economic data, causing widespread market pessimism. However, some altcoins are displaying robust performance, while others teeter on the edge of decline.
What is the Current Price of TON Coin?
A prominent cryptocurrency analyst highlighted the strong outlook of certain high-volume altcoins and provided significant insights into others. Altcoin Sherpa, a well-known figure in the crypto world, shared his observations on various cryptocurrencies via X. His initial focus was on Toncoin (TON), a layer-1 blockchain. TON reached its all-time high (ATH) of $8.25 on June 14 and continues to exhibit a strong upward trend.
“This still looks incredibly strong… TON: still one of the strongest charts in crypto,” said Sherpa. Following a rise of over 1% in the last 24 hours, Toncoin is trading at $8.01 at the time of writing.
Current Status of Solana Coin
The analyst issued a caution regarding Solana (SOL), suggesting it might experience a significant decline in its Ethereum (SOL/ETH) pairing. “Although I still consider Solana to be a great individual investment tool, the current popular meta is unhealthy. This chart looks quite alarming, and I believe ETH will likely outperform in the coming period,” he warned.
SOL/ETH is trading at 0.0409 ETH after a 1.05% drop in the last 24 hours. The analyst’s chart indicates the potential for SOL/ETH to fall to 0.039 ETH.
Current Status of AI Token RNDR
The analyst indicated that Render (RNDR), which has gained attention in recent months, may retest the $6.03 level, suggesting a bearish outlook. “RNDR: a good project, but I wouldn’t start scaling until $7 or below. There could be a good buying area there,” he mentioned. RNDR, experiencing a 4% rise in the last 24 hours, has returned to above $8, with its market cap surpassing $3 billion.
Critical Takeaways for Investors
– Monitor Toncoin (TON) for continued bullish trends.
– Exercise caution with Solana (SOL) due to potential drops in the SOL/ETH pairing.
– Consider buying opportunities for Render (RNDR) below $7.
– Keep an eye on Ethereum (ETH) for possible new ATHs.
Will Ethereum Reach Its ATH?
Lastly, the analyst analyzed Ethereum (ETH), suggesting that new all-time highs could be imminent. “ETH’s transition to ATH is inevitable. I don’t know when and how it will get there, but this supply zone will eventually break. It still looks like a guaranteed and fairly safe trade (as long as you can stomach the short-term dip),” he asserted. Ethereum has rebounded from recent declines, trading at $3,559 following a rise of over 5% in the last 24 hours. ETH’s market cap has surpassed $427 billion, with a 24-hour trading volume reaching $14.7 billion after a 10.95% increase.