Bitcoin, Ethereum, and Solana: Anticipated Price Breakouts for BTC, ETH & SOL
2 min read
Cryptocurrency analyst Josh of Crypto World recently discussed the potential for significant breakouts in both Bitcoin and Ethereum. With Bitcoin hovering near crucial levels, Josh opened up about the importance of the impending breakout.
Bitcoin’s price, currently around $52,000, is on the verge of confirming a major breakout above the golden pocket range of $48,000 to $50,000. Confirmation would require a weekly candle close above $50,000, signaling further bullish momentum. Josh spoke about the significance of this breakout, indicating a possible move towards an all-time high in the coming months. At the time of writing, Bitcoin is up by more than one percent and is trading at $52,158.
Josh also noted the continued inflows into Bitcoin ETFs, suggesting ongoing bullish pressure, particularly during weekdays when stock markets are open. However, Josh warned against expecting uninterrupted bullish momentum, especially over the weekend, due to reduced ETF trading activity and potential sideways consolidation. He pointed out the upcoming holiday on Monday, which could further influence market dynamics upon the stock market’s reopening on Tuesday.
Ethereum Price Analysis
In Ethereum’s case, Josh explained a similar potential breakout scenario above the golden pocket range of $2,530 to $2,670, with a weekly candle close above $2,700 as confirmation. Given that Ethereum is already trading near the $2,900 level, he said that this breakout, if realized, could establish new support levels and pave the way for further upside momentum toward $3,400 to $3,500. At the time of writing, Ethereum is trading at $2900 levels, up by more than 3 percent.
Solana Price Analysis
Additionally, Josh discussed Solana’s price action, noting a recent retest of the golden pocket range between $115 and $117. While highlighting a potential head and shoulders pattern forming, he advised caution. Solana is trading near the $113 level.
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