Justin Bennett, closely followed cryptocurrency analyst and trader, cryptocurrency marketsAs Bitcoin prepares to close the week at its peak, he shared his analysis for several top altcoins, mostly Bitcoin.
Cryptocurrency trader and analyst Justin Bennett announced in the latest issue of the “Cryptocademy” newsletter that $ 24,200 bitcoin Calling it a very important “or sink or break” level for (BTC), he said:
Bitcoin has struggled to break out of the $ 24,200 zone I’ve been talking about in the past few weeks. For the $ 25,400 zone to turn into support and emerge, it must be crossed and a daily close above this level is required. Alternatively, a daily close below $ 24,200 could consolidate it as resistance. Furthermore, a close above and below this level could cause a false uptrend.
The largest cryptocurrency Bitcoin (BTC), is trading at $ 24,428 at the time of writing.
Altcoin following the analyst
Bennett is the largest smart contract platform after Bitcoin analysis EthereumAffirming it.
ETH is struggling above the $ 1,900 zone today. This came as no surprise as we knew sellers would defend this level. Any Ethereum pullback must be above $ 1,780 on a daily basis for the market to remain constructive. With any move below this, we can see a larger pullback begin. If ETH manages to close the day above $ 1,910, the next stop will be $ 2,150.
Ethereum (ET), is trading at $ 1,978 at the time of writing.
Bennett, also Layer 1 protocol wither(SOL) also analyzed. The analyst said that if Solana, which is listed as Ethereum’s biggest rival, moves higher, $ 40 will be an important support level, and he expects very high volatility in the altcoin:
SOL is one of the altcoins to keep an eye on. There is a fairly broad triangle that has developed due to the declining trend line at the end of last year and the rising line from the June low. Considering that the market has been bullish for about two months, I expect the impending breakout to be quite volatile. The downside targets are $ 32 and $ 26, while the upside targets are $ 47.50, $ 53 and $ 60. The $ 40 zone is an important level for SOL to protect.
solano (LEFT), trading at $ 47.19 at the time of writing with positive market momentum.
Bennett, altcoin analysisni Ethereum-based virtual world platform The sandboxIt ends by analyzing (SAND). Analyst, metaverse He warned that his project stands at an important crossroads and that the altcoin could come under significant selling pressure if its price exceeds $ 1.50:
SAND, moving within the model I mentioned a week ago, it is getting stronger. But the model has run out of space and will have to make a decision in the coming days. A break to the upside could pave the way for the $ 1.50 region, while a break to the downside could reach levels like $ 1.30 or even $ 1.00. From November 2021, the trend line at $ 1.50 is likely to attract a lot of sellers, so you need to be careful if you want to hit a higher price.
The Sandbox (SAND) is trading at $ 1.36 at the time of writing.