Altcoin Sherpa, a well-known trader and analyst, is optimistic about the future of a large-cap altcoin despite a marketwide correction. With a following of 217,300 on the social media platform X, Altcoin Sherpa, whose true identity remains unknown, believes that Toncoin (TON), the native token of the layer-1 blockchain, is currently in a strong uptrend following its all-time high of $8.25 on June 14th. Describing the chart as “incredibly strong,” Altcoin Sherpa remains bullish on TON, stating that it is still one of the strongest charts in the crypto space.

At the time of writing, Toncoin is trading at $8.10, reflecting a more than 3% increase in the last 24 hours. However, Altcoin Sherpa issues a warning regarding Solana (SOL), suggesting that it may be at risk of a collapse against Ethereum (SOL/ETH). Despite acknowledging Solana as a promising project, Altcoin Sherpa expresses concerns about the current market dynamics, indicating that ETH is likely to outperform SOL in the near future.

The analyst also turns attention to Render (RNDR), a graphics processing unit (GPU) rendering blockchain, speculating that it could retest the Fibonacci retracement level at $6.03. While recognizing RNDR as a good project, Altcoin Sherpa advises caution in scaling in until the price reaches around $7 or lower, which could present a buying opportunity.

In his final prediction, Altcoin Sherpa anticipates that Ethereum will achieve new all-time highs. Emphasizing the inevitability of ETH reaching new heights, the analyst suggests that despite short-term fluctuations, Ethereum is poised for significant growth in the future.

Ethereum is currently trading at $3,479, showing a slight increase in the last 24 hours. With an all-time high of approximately $4,900 in November 2021, Altcoin Sherpa remains confident in ETH’s long-term prospects.

For the latest updates and insights, make sure to subscribe for email alerts and follow Altcoin Sherpa on X, Facebook, and Telegram. Remember to conduct thorough research before making any investment decisions in the volatile crypto market. As always, all trades and transfers come with inherent risks, and it is essential to exercise caution. The Daily Hodl does not provide investment advice and encourages readers to make informed decisions when dealing with cryptocurrencies and digital assets.