Altcoins
Ditch Solana and Stack These Three Altcoins Now!
Yesterday, altcoins were very active, especially following the Solana ETF announcement. Solana price rallied sharply, prompting some traders to take profits. As the market approaches the weekly close, it remains bullish for the weekend. A green close this week or next could trigger a strong rally. Altcoins are showing strong momentum, and a slow rise in Bitcoin could lead to gains in the altcoin market.
However, on Crypto Banter “The Sniper Trade Show” the analyst/trader explained why he chooses other altcoins over Solana, stating that it is strategic. He used the hype around Solana to make his profits and has now moved on to other altcoins that are currently showing strength and ready to rally.
He said that Polkadot is currently growing and Chainlink looks strong. He is moving his investments to these coins to make money while Solana calms down. Once Solana is ready again, he plans to re-enter and increase his position.
To clarify, he did not abandon his long-term investment in Solana but exited his trading positions. He then re-charted and bought Cardano at a higher price yesterday but managed to get better prices today. He finds Cardano easy to trade and hopes it will climb to around 44-45 cents which would significantly increase his portfolio.
The analyst has started building positions in Chainlink and Cardano. He sees Cardano waking up and looking strong, so he plans to trade it for the next 10% profit. For Cardano, he bought at the bottom of a trendline, planning to place his stop loss just below it. His strategy involves taking full positions before a market surge so that he is ready to take profits during a rally. It needs a 10% move from Cardano and Chainlink to reach its next target.