- Bitcoin surged last weekend to fulfill analysts’ expectations.
- A crypto analyst believes BTC’s Monday pullback is good for the market.
- Solana surged to $171, re-establishing bullish momentum.
Bitcoin surged last weekend, meeting the bullish expectations of most analysts. BTC hit $69,363 last Sunday before pulling back as we entered a new week. A crypto analyst on the Altcoin Buzz podcast says Bitcoin’s recent pullback is temporary and expects the cryptocurrency to move upwards unless it falls below critical support.
The analyst stated that multiple daily candles closing above the $66,000 region have made Bitcoin bullish. He sees that level as a notable resistance, especially with Bitcoin’s recent trend pattern. The analyst believes the $66,000 region has become the support that will fuel Bitcoin’s bullish condition.
Read also: Bitcoin Consolidates Near All-Time High With 320,000 Active Addresses
However, the analyst also pointed out the potential risks of Bitcoin breaking below this support. While he believes Bitcoin’s Monday pullback is temporary, the analyst said that falling below this level could be critical to Bitcoin’s price development, potentially leading to lower price levels, with BTC potentially returning below $60,000.
Despite this risk, the analyst sees the pullback as a positive development. He believes it would allow the Bitcoin market to flush out leverage and create a buy-back opportunity for investors.
Solana Breaks Out, Analyst Predicts Further Upside
Meanwhile, Solana was one of the most bullish cryptocurrencies, rallying over $170. The scalability-focused altcoin reached $171 before making a slight pullback. Solana’s recent rally pushed the price above a notable resistance of around $162, turning it into support. The altcoin surpassed the analyst’s expectation by not retesting the $159 level, a development he views as significant in Solana’s bullish environment.
Read also :Solana (SOL) Price Prediction: Cup Handle Pattern Points to Massive Surge
Given this, the analyst expects Solana to continue in a bullish direction. He thinks that, besides a slight retracement, the altcoin could consolidate sideways before continuing upwards. He predicts SOL will reach higher levels soon and retest the next resistance around $183.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
