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One of the popular analysts in the cryptocurrency world shared his thoughts on the high-volume altcoin Solana (SOL) and dogwifhat (WIF) on the SOL network, while also commenting that Bitcoin (BTC) is currently at a make-or-break level.
Analyst’s Bitcoin Commentary
One of the frequently mentioned analysts in the cryptocurrency world, DonAlt, made significant statements about three different cryptocurrencies on X and shared charts about them. His first comment was about Bitcoin. The analyst’s comment was as follows:
We are at a make-or-break level on a weekly basis here. As I mentioned before, I really don’t like the low range of $60,000 for another test. This is a better, untested support. If it breaks, I think we will go to the next specified support; if it holds, new ATHs (all-time highs) are likely.
According to the statement made by DonAlt, BTC has been stuck in a price range for 100 days, and if it manages to break out of this range, it may continue to hold its ground.
The 100+ day range in BTC is ending soon. I predict the upcoming breakout will set the trend and will be maintained as long as we change. It will be fun to trade the main wave again.
As of the time of writing, BTC is trading at the $64,086 region, which emerged after a 1.32% drop during the day.
Solana Comments
Following Bitcoin, DonAlt also commented on Solana, stating that despite the horizontal appearance on the BTC side, it was surprising that Solana, known as the Ethereum (ETH) killer, experienced such a significant drop in the last few weeks.
SOL is moving in slow motion. It turns red day by day. It has already lost 37% against USD. It’s a bit crazy to see BTC moving sideways.
As of the time of writing, Solana continues to find buyers in the $133 region after a 0.31% drop.
Analyst’s WIF Views
Concluding his analysis series with WIF, the analyst stated that a sharp drop in price resulted in a poor outlook. On the other hand, the analyst also criticized the emotional attachment investors have with WIF.
I’m not even shorting WIF right now, so you can’t blame me for this; it just looks like crap. Call me biased all you want, a drop is a drop. WIF holders are mocking me for this current green daily candle all over my words. I can’t say I hate this new dynamic; it makes Twitter quite fun. I’ve never seen market participants approach simple up/down movements so emotionally.
As of the time of writing, WIF is trading at $1.81 after a 10% drop in the last 24 hours. The market cap has fallen to $1.8 billion, while the 24-hour trading volume has increased to $434 million.
