Correctly assuming the end of last year’s bull run, Pentoshi predicts significant price increases for the 2 cryptocurrencies in the short term.
According to Pentoshi, these 2 cryptocurrencies will make big leaps
Cryptocurrencies on Pentoshi’s list were Bitcoin (BTC) and Solana (SOL). After almost a year, the analyst is no longer bearish in Bitcoin. The prominent Twitter analyst explains to his 612,000 Twitter followers why:
It’s hard to change the bias after 10 months of failure, but I think it can happen in the next two months. I’m also a human with a high time frame bias. That’s why he focused on larger time zones. I have reasons for this.
Pentoshi says that the diagonal resistance that has kept Bitcoin in a downtrend since November last year is about to break. The analyst now expects an accurate breakout rally to $26,721. Bitcoin is currently trading around $19,095.25. The leading cryptocurrency has the potential to rise more than 40% if true to Pentoshi’s cause.
Pentoshi expects these levels in Solana price
Pentoshi expects Solana (SOL), an Ethereum competitor and smart contract platform, to rise with Bitcoin. The analyst says that he has been trying to take a position at $ 32.26 in the last days. Pentoshi expects a real trip from this region for $37. The analyst, who thinks that current levels are the base, bases his short-term comfort on the empty Fed meeting schedule:
No FOMC (Federal Open Market Committee) or interest until November. Fed terminal rates at 4.6% (maximum pricing after increasing from 0 to 4.6%). Imagine if we could get bored. The markets are all on the high timeframe abutment, the first test of June’s first floor levels, so now or never.
Solana price analysis
Solana (SOL), dollar with $30 reinforcement stuck. Thus, it indicates a state of stability between buyers and sellers. Multiple analysts expect uncertainty to settle imminently. The bears will try to seize control by pushing the price below $30. If this happens, SOL will test the price to its strong reinforcement at $26. Bulls need to defend this level aggressively. Because if this base is broken, there is a possibility that the SOL price will drop to $ 20 with panic selling.
On the other hand, buyers will need to push the price above the moving averages and overhead resistance at $39 to invalidate this negative sentiment in the short term. If successful, the SOL will then head towards $48 accompanied by a strong bull run. According to the market price, the 9th largest crypto currency unit is currently trading at $ 33.88. It remained stable compared to last week and the last 24 hours.