Trader Says Solana and Three Additional Altcoins Are His Picks for Longer-Term Accumulation
dailyhodl.com 11 September 2024 00:27, UTC A closely followed crypto strategist and trader says Solana (SOL) and three additional altcoins are his best picks for longer-term holds.
Pseudonymous analyst Altcoin Sherpa tells his 223,400 followers on the social media platform X that SOL will likely remain in an uptrend as long as it holds $110 as support.
“Longer-term buys: RLB (shilled a lot plus ‘real value’ plus NFL). SAGA chart looks good. TAO at $200 (AI). SOL from $130-$110 still good in my opinion.”
Zeroing in on SAGA, the analyst suggests that the token is currently trading in a range after carving a bottom.
“SAGA I think this thing looks pretty good for a DCA (dollar cost averaging)/spot position. Looks to have found a bottom and consolidating over three months and ranging despite BTC being iffy.”
Solana is trading for $133 at time of writing, up more than 3% in the last 24 hours. Meanwhile, RLB is trading for $0.094 at time of writing, up 9.34% on the day, SAGA is trading for $1.53, up 13.23% on the day and TAO is trading for $276, up 10.71% in the last 24 hours.
The analyst also reveals his “swing trade” picks, including Helium (HNT), a Solana-based asset that uses hotspots to connect wireless devices to its network, lending platform Aave (AAVE) and Solana competitor Sui (SUI).
Looking closer at HNT, the analyst suggests HNT could retest lower levels in the near term after a sudden breakout.
“HNT finally got into this one. It’s being twapped or bought up by someone and it’s got a bizarre chart. I’ve been tweeting about this one for weeks at this point and traded it well before and bought on the recent move down. Holding for a bit with other orders lower.”
HNT is trading for $7.61 at time of writing, down 7.3% in the last 24 hours.
Generated Image: Midjourney
