- Market levels are in favor of AVAX and FET as altcoins begin to collectively regain stamina and prepare for a potential upward correction.
- Both assets are primed to sustain notable gains in the near term.
A promising market player is making a bullish forecast for two altcoins. According to the analyst, AVAX and FET are primed for a bullish rally in the near term.
As the end of the year draws near, market experts are laying down their predictions for year end potential price rallies. Very recently, a pseudonymous analyst Altcoin Sherpa has spotlighted AVAX and FET as two assets positioned for a price upswing.
In a detailed post shared to X, popularly known as Twitter, the analyst showed his 201,600 followers a weekly chart pattern that mirrored AVAX’s breakout from its resistance at $39.
Currently holding the position as the 9th most valued asset by market cap, AVAX is outperforming rival chains and is primed to make an upclimb to $60.
As the analyst wrote;
AVAX: I don’t know why this is moving so hard, but it’s pretty incredible to see this in the midst of all the new layer-1s/layer-2s available. AVAX has outperformed many of the hot shiny new chains during this run. $55 and $60 are up next, in my opinion.
FET to Secure 40% Surge in Gains
FET.Ai, a buzzing decentralized machine-learning network Fetch.ai also appears to have piqued the interest of the market player. FET has been on a decent run since the last month, and the analyst is convinced that it could record a 40% increase in gains. Altcoin Sherpa explained;
FET: currently level is interesting but I am still not going to be buying around here. I’m still looking for my main AI play for this cycle to be honest. I have other bags and narratives packed but not this one (yet). $0.90 seems likely in the mid-term to be honest.
At the time of this report, AVAX is trading at $43. Recall that AVAX previously recorded massive monthly gains going up to as high as 70%. The altcoin has managed to sustain its gains over time, making it the highest-performing crypto within the top 10 categories.
In a similar manner, FET, although not amongst the most valuable assets, is outperforming other rival altcoins. FET has recorded a whopping 677% increase in its year-to-date price value. After hitting a 24-hour all-time high of $0.7271, the altcoin is now trading at a press-time price of $0.7126.
$BEAM: Nice pullback for those who are interested in getting in soon.
I think BEAM is a great index for web3 gaming overall. I have a bag and will be holding for a while.
I think that the $0.016 area is interesting….0.50 fib of the entire move. Would be looking there. pic.twitter.com/XAjmsP9reF
— Altcoin Sherpa (@AltcoinSherpa) December 16, 2023
Conclusively, the analyst highlights BEAM as one of the most promising assets at this time. Not only is Beam promising for new entrants, but it is also a “great index” for Web3 gaming, he added. He believes that the $0.016 area is interesting and that the 0.50 Fibonacci level is worth watching.
