Market

KOL Pentoshi makes predictions on what’s next for Bitcoin, ETH and SOL

Strategist Pentoshi predicts things to come for Bitcoin and smart contract platforms Ethereum (ETH) and Solana (SOL).

The anonymous analyst says that while he is bearish on BTC, he also expects it to recover before continuing the corrective trend.

“BTC: The trend is still seeing lower highs before new lows.”

The source: pentoshi

The analyst sees bitcoin rallying near the $46,000 resistance before forming a bearish lower top structure. However, Pentoshi says this rally has the potential to take Bitcoin above $50,000.

“I think $53,000 is currently the highest that can be reached. But first it needs to break the supply area around $46,000. Prices there have been stagnating for weeks.”

Trader is also bearish on ETH, noting that the next rally of the leading smart contract platform will not reach the desired target.

“ETH is similar to BTC. I think ETH will hit the red box and when it gets there it will sell my remaining BTC.

Logical area for lower highs and supply given current market structure. Will also focus on high timeframe charts like this and only trade low timeframes privately.”

The source: pentoshi

According to the chart, the analyst is forecasting a rally in ETH to $3,500 before a steep correction to $2,000.

The final coin on the list is SOL, which Pentoshi says could trigger a sell-off event if it fails to hold the $130 support.

“Do you see any support below? Pop-up for sale”.

The source: pentoshi

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.