Altcoin Sherpa, a popular trader and analyst, is sharing an updated perspective on a medium-cap crypto asset that has surged by over a thousand percent since January.

Known by the pseudonym Altcoin Sherpa, the trader is informing his 217,100 followers on the social media platform X about the utility token of Ondo Finance (ONDO), a crypto project specializing in the tokenization of real-world assets. Altcoin Sherpa describes ONDO as “one of the strongest coins out there,” noting that it has recently rebounded from a crucial support level, potentially confirming the uptrend. Analysis from Altcoin Sherpa’s chart indicates that ONDO’s bounce aligns with the 0.382 Fibonacci retracement level, commonly used to identify support or resistance points.

Furthermore, Altcoin Sherpa’s chart illustrates that ONDO has managed to stay above the 200 exponential moving average (EMA) on the four-hour chart for more than three weeks.

As of the latest update, ONDO is trading at $1.31, marking a remarkable 1,469% increase from its low of $0.0822 on January 18th.

Shifting focus to Solana (SOL), Altcoin Sherpa predicts, “I think SOL will continue to trade within the $185 to $120 range. Despite the wide range, I anticipate a prolonged consolidation period. It’s a positive sign following the significant rally, and I expect more significant developments in the future.”

At the time of writing, Solana is priced at $150.

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