Today, we will examine the market evaluations of three different cryptocurrency analysts. After the classic decline anticipated with the US market opening, BTC returned to $57,000. Despite ongoing consolidation, the positive inflation data doesn’t seem to affect the BTC chart significantly. Analyst Carl suggests that the time might be ripe for Solana $170 (SOL) Coin.
Solana (SOL) Analyst Commentary
Renowned cryptocurrency analyst Carl recently shared the following chart, indicating an entry opportunity for short-term selling. He pointed out that those who bought at current levels during previous short-term fluctuations had profitable selling opportunities. Asking his followers if they are buying the dip, Carl suggests that if he is correct, SOL Coin might offer higher-level selling opportunities in a few days.
After testing the $125 support level, SOL Coin experienced an increase of between 15% and 58%. Whether history will repeat itself remains to be seen, but the bottom level has been tested once more.
Cryptocurrency Commentary
Bitcoin $103,619‘s price has returned to $57,000. However, investors remain uneasy as the ongoing situation resembles the persistent declines of bear markets, creating psychological pressure. Many investors, especially in futures trading, have faced significant losses due to repeated disappointments.
If you compare the liquidation figures following major movements on liquidation maps, you will notice a decrease in liquidations compared to months ago. This is because investors lack a strong sense of confidence in either direction. Thus, as the price moves, stop levels are triggered, reducing liquidation figures. In the past, major movements caused substantial losses for those expecting declines during an uptrend, and the same happened for those expecting rises.
Our second analyst, Jelle, expects a new move towards $60,000.
“Everyone feared the intraday silly decline – meanwhile, support was confirmed, and the 4-hour 50EMA turned into support. Time for a new move towards $60,000.”
If BTC reaches $60,000, altcoins are also likely to follow suit. The last analyst, Daan, is looking for sustainability above $57,100. While enjoying the fact that traders relying on CPI data are hunted in both directions, the bottom support stands at $55,600.