After reaching a high of $42,429 on Saturday, Bitcoin’s price fell for the second day in a row. Later, the market reached a high of $40,000 due to increased tensions around the Ukraine conflict. All the other altcoins on the chart follow the same sentiment.
Solana (SOL), Avalanche (AVAX), and Terra (LUNA) are all positive according to a famous crypto expert.
In a recent video, the host of InvestAnswers, a financial education YouTube channel, claims that Solana is on the verge of reclaiming the three-digit price level, citing a significant bullish indication.
He says there is a lot of significant bullish divergence in the chart. It can be seen, the positive divergence from the price movement and the compression wedge that we see if one looks at the RSI (relative strength index) at the bottom.
Solana’s price movement appears to be causing not just this bullish divergence from the RSI in the same timeframe, but many believe it’s only a matter of time before we return to $120. He notes that is is a very favourable chart with a very positive forecast for Solana’s price action.
The analyst is also keeping a close eye on Avalanche, a smart contract platform that he believes is approaching a point when bulls will likely take control of the market.
He explains that AVAX is seeing a similar type of downward compression chart activity, but it’s on the verge of breaking out, and the price has been caught in this descending triangle. It’s made a tremendous comeback since March 15th, and it’s still within the bigger descending triangle, but the indications are that it may be a good breakout or a bull trap, he added.
The Ethereum challenger’s Sharpe ratio, according to the crypto researcher, shows a highly optimistic future.
“Your Sharpe ratio should always be greater than 0.5… If you’re at one, that’s a fantastic result, because it suggests you’re crushing the market and outperforming everyone else…
The Sharpe ratio of LUNA is 4.36. It’s overwhelmingly positive. This thing is a beast, and many people are demanding for a $200 Luna in the near future, as well as a $200 Avalanche and $200 SOL.