Ethereum

Sherpa

Dogecoin

Polygon

Avalanche

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 A popular crypto analyst is predicting that one Ethereum (ETH) competitor is on the verge of a massive collapse.
 Pseudonymous trader Altcoin Sherpa tells his 197,900 followers on the social media platform X that Avalanche (AVAX) could decline by more than 22% from its current value.
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 “AVAX: really key level for this one in my opinion. I don’t see AVAX holding it unless Bitcoin (BTC) looks better. Not saying to short, but I think this current level seems important. Expecting a bit lower personally, like $16.”
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F_JNcFEXAAAui4J?format=png&amp;name=large" alt="Image" width="1815" height="770">
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 Source: Altcoin Sherpa/X
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 The trader’s chart suggests AVAX will pull back after crossing a key resistance level at $21.17 based on a historical pattern.
 AVAX is trading for $20.60 at time of writing, down 9.4% in the last 24 hours.
 Next, the trader weighs in on Dogecoin (DOGE), and he says the memecoin is on the cusp of printing a bullish price pattern.
 “DOGE: interesting moves the last few days. I think this is a key level. We’re about to see if it can make a higher high [price]. If we see that plus a higher low formed, I think we see a bullish market structure. 
 That said, I still don’t think DOGE is as good as it was in previous cycles due to MC (market capitalization). Would probably look for other memes down the risk curve.”
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F_JO1gMXsAEshyk?format=png&amp;name=large" alt="Image" width="1815" height="770">
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 Source: Altcoin Sherpa/X
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 Dogecoin is trading for $0.0819 at time of writing, up 6% in the last 24 hours.
 Lastly, the trader says that the blockchain scaling solution Polygon (MATIC) will likely retrace to a key Fibonacci level and then bounce.
 “MATIC: decent entry coming up here at $0.75 in my opinion.”
 <figure style="width: 100%" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F_JQziEWAAABr5s?format=png&amp;name=medium" alt="Image" width="1200" height="509">
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 Source: Altcoin Sherpa/X
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 Polygon is trading for $0.80 at time of writing, down 9.7% in the last 24 hours.
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/trader-predicts-one-ethereum-competitor-to-plunge-by-double-digits-updates-outlook-on-dogecoin-and-polygon-tbt70736.html">https://thebittimes.com/trader-predicts-one-ethereum-competitor-to-plunge-by-double-digits-updates-outlook-on-dogecoin-and-polygon-tbt70736.html</a>

Trader Predicts One Ethereum Competitor To Plunge by Double Digits, Updates Outlook on Dogecoin and Polygon

TheBitTimes

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