According to TOP analysts, BTC, ETH and MATIC will continue to do so
A prominent analyst sets price targets for several crypto assets following the recent turmoil in the market.
In a series of tweets, the analyst, nicknamed Credible, looks at Crypto Charts to give his 281,500 followers an idea of what’s next for Bitcoin (BTC), Ethereum (ETH), and 1st Altcoins you follow could.
Turning to Bitcoin, the analyst believes that BTC has survived the worst sell-off in recent history and is likely to cross the $ 50,000 mark again soon.
“I don’t think BTC will hit a new low. Hopefully it returns to the 50,000 middle class soon.
The price has both surpassed the local lows and met the bids on the major stock exchanges of around 45-47,000. ”
BTC / USDT 4-hour chart | The source: Credible crypto / twitter
At the time of writing, Bitcoin is up slightly over the day to $ 48,827.
Next, Credible Crypto examines the movement of the ETH / BTC pair to gauge the future prospects of ETH. He said a jump from the 0.070-0.080 zone bodes well for ETH.
“A lot of people ask me if I am still optimistic about ETH – nothing has changed but you need to understand that ETH / BTC recoveries are MONTHLY level.
During the month, the pair may form a long wick below. Altcoins could fall in the next few weeks, but HTF [khung thời gian cao] still increasing ”.
ETH / BTC monthly chart | The source: Credible crypto / twitter
Ethereum is currently up over 4% on the day and is trading at $ 4,045.
Switch to the Layer 2 Polygon (MATIC) scaling solution, says the analyst.
“I call that ‘Farmonger Part 2’. This altcoin rally ended on an SFP [swing failure pattern – mô hình phân kỳ âm] on a high level. hunt [thanh khoản] before falling back to $ 1.35 [theo ý kiến của tôi]”.
MATIC / USDT 8-hour chart | The source: Credible crypto / twitter
The SFP pattern is a type of reversal pattern that can be used to predict sell or buy signals.
Last month, MATIC rose from a low of $ 1.45 to a high of $ 2.58. The 14th place crypto asset is up nearly 9% over the day to $ 2.17.
You can see the coin prices here.
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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.