KOL Pentoshi says BTC is on last line of defense, updates ETH, SOL and ADA outlook
A prominent analyst warns Bitcoin (BTC) bulls will be in trouble if they lose their last line of defense while providing updates on Ethereum (ETH), Solana (SOL) and Cardano (ADA).
The person known in the industry as Pentoshi told his 518,400 Twitter followers that the bulls need to defend support at $39,000 to avoid a major sell-off.
“Despite all the uptrend propaganda, the price is respecting the resistance levels. The Bulls are the last line of defense. I will stay here for a long time, knowing that the downside risk is very high.”
BTC/USDT daily chart | Source: Pentoshi/Twitter
At the time of writing, Bitcoin is changing hands at $38,303, down 4.51% over the past 24 hours. However, BTC has yet to close the daily candle below the key pentoshi support.
Looking to Ethereum, the crypto strategist also believes the leading smart contract platform is bearish and likely to trade below $2,000 if it breaks the $2,200 support.
“Note that there is local strength here as it held the lows ($2,200) but overall trend remains bearish with lower highs. *IF* this low breaks, *THAT* a drop below $2,000 is possible.”
ETH/USDT daily chart | Source: Pentoshi/Twitter
Next is Ethereum’s competitor, Solana (SOL). According to Pentoshi, the bulls must hold the SOL above $80 or he forecasts a sharp correction to $50.
“Hold or drop sharp”.
Daily SOL/USDT chart | Source: Pentoshi/Twitter
Last on the analyst’s list is smart contract platform Cardano. Pentoshi says ADA faces a 60% drop if it loses support at $1.00.
“The bearish signal is blinking. There’s nothing underneath but gravity.”
ADA/USDT 3-day chart | Source: Pentoshi/Twitter
According to him, ADA can drop to $0.45 if it loses the $1 support.
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.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Author
Analysis
KOL Pentoshi says BTC is on last line of defense, updates ETH, SOL and ADA outlook
A prominent analyst warns Bitcoin (BTC) bulls will be in trouble if they lose their last line of defense while providing updates on Ethereum (ETH), Solana (SOL) and Cardano (ADA).
The person known in the industry as Pentoshi told his 518,400 Twitter followers that the bulls need to defend support at $39,000 to avoid a major sell-off.
“Despite all the uptrend propaganda, the price is respecting the resistance levels. The Bulls are the last line of defense. I will stay here for a long time, knowing that the downside risk is very high.”
BTC/USDT daily chart | Source: Pentoshi/Twitter
At the time of writing, Bitcoin is changing hands at $38,303, down 4.51% over the past 24 hours. However, BTC has yet to close the daily candle below the key pentoshi support.
Looking to Ethereum, the crypto strategist also believes the leading smart contract platform is bearish and likely to trade below $2,000 if it breaks the $2,200 support.
“Note that there is local strength here as it held the lows ($2,200) but overall trend remains bearish with lower highs. *IF* this low breaks, *THAT* a drop below $2,000 is possible.”
ETH/USDT daily chart | Source: Pentoshi/Twitter
Next is Ethereum’s competitor, Solana (SOL). According to Pentoshi, the bulls must hold the SOL above $80 or he forecasts a sharp correction to $50.
“Hold or drop sharp”.
Daily SOL/USDT chart | Source: Pentoshi/Twitter
Last on the analyst’s list is smart contract platform Cardano. Pentoshi says ADA faces a 60% drop if it loses support at $1.00.
“The bearish signal is blinking. There’s nothing underneath but gravity.”
ADA/USDT 3-day chart | Source: Pentoshi/Twitter
According to him, ADA can drop to $0.45 if it loses the $1 support.
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.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Other Posts
Related Posts
Latest
BlockDAG Surges Past $170M as BDAG250 Bonus End Countdown Begins – Aave Targets $400 & Solana Shines with Scalability
Qubetics Presale Price Surge Approaches: The Best Coins to Invest in Right Now While Toncoin, and XRP Gain Traction
Book of Meme Old News? This Best Meme Coin to Invest in 2024 Is Multiplying Gains Like a Champ
Press Release
BlockDAG Surges Past $170M as BDAG250 Bonus End Countdown Begins – Aave Targets $400 & Solana Shines with Scalability
Qubetics Presale Price Surge Approaches: The Best Coins to Invest in Right Now While Toncoin, and XRP Gain Traction
