A recent forecast by cryptocurrency strategist Altcoin Sherpa suggests an impressive surge in the value of Solana (CRYPTO: SOL).
According to him, the digital asset is expected to climb by a whopping 267% by year's end, potentially breaking the $500 mark.
Altcoin Sherpa said acquiring shares of Solana at current levels could be highly advantageous, as he predicts substantial future gains.
"SOL: averaging into SOL is never a bad idea in my opinion. I think this goes to $500+ later this year. Anywhere from $130-$110 would be a gift (not quite expecting that yet)," he shared on X, formerly known as Twitter.
$SOL: Averaging into SOL is never a bad idea IMO. I think this goes to $500+ later this year. Anywhere from $130-$110 would be a gift (not quite expecting that yet) pic.twitter.com/eCTNfYDMBK
— Altcoin Sherpa (@AltcoinSherpa) April 26, 2024
The strategist also highlighted potential opportunities in two AI-focused cryptocurrencies, Fetch.ai (FET) and Render (RNDR), suggesting that these could see dips to more attractive buying levels.
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Prob going to be some good AI coin deals here in the coming weeks/months if btc continues to have the current price action of bleeding/chopping. Stuff like $FET $RNDR are going to be great buys imo. Start averaging in at the .50 fib and go down to .618 IMO. pic.twitter.com/aaaRw1icdD
— Altcoin Sherpa (@AltcoinSherpa) April 26, 2024
"Probably going to be some good AI coin deals here in the coming weeks/months if BTC continues to have the current price action of bleeding/chopping. Stuff like FET, RNDR are going to be great buys in my opinion. Start averaging in at the .50 fib and go down to .618 in my opinion," the analyst shared.
Fetch.ai and Render are both anticipated to rebound and rally after short-term pullbacks linked to current market volatility.
Currently, Solana is trading at $136, experiencing a slight decrease of 5.54% over the past day. Similarly, Fetch.ai and Render are trading at $2.11 and $7.95, respectively, declining over 7%.
Now Read: Bitcoin's Rally Sparks Renewed Interest In Cryptocurrencies — Should You Invest In It Now?
Photo: Shutterstock
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