The Twitter analyst, nicknamed Pentoshi, expects smart contract giants Ethereum (ETH) and Solana (SOL) to continue their downtrend. According to the analyst, it is possible to see decreases of up to 30% with the violation of critical support levels. We have compiled Pentoshi’s current altcoin analysis for Kriptokoin.com readers.
2 altcoin projects approaching critical levels
The mysterious crypto analyst known as Pentoshi on Twitter has 514,500 followers, with bulls failing to push Ethereum above $3,100 at the risk of revisiting the wide bottom zone around $2,000.
Ethereum (ETH) is currently retesting from the bottom after a 50% rally at $2,200. Is it possible to hit the hard resistor? March is the key to everything.
Pentoshi cites the possibility of the Fed increasing interest rates in March to keep inflation in check. You can reach the expectations of the analysts who commented on the effects of the possible interest rate meeting of the Fed on February 14, which we quoted as Kriptokoin.com, on Bitcoin. Pentoshi, on the other hand, advises investors to be cautious in the coming weeks due to the uncertainty level of the macro high environment:
The ball is in the Fed’s court. I still truly believe that caution is strongly warranted for the month of March. This market isn’t going anywhere anytime soon. The Fed is in an unusual stalemate and we don’t yet know how these moves will affect the markets. Let’s just be careful. That is all.
Pentoshi predicts Solana to return to $80 after being rejected at $120
According to crypto analyst, Solana (SOL) that goes below $80 can definitely reach $50. Pentoshi follows and interprets the following technical chart for this:
Let’s create a good market structure for the next year and fill in the gaps where support has not been established.
At the time of writing, Ethereum and Solana are trading in the $2,900 and $95 region, respectively. ETH and SOL were up slightly by 1% while Bitcoin remained stable in the last 24 hours. While Ethereum is down 5% compared to last week, Solana’s depreciation has approached 20% in the last 7 days. You can check out other analysts’ SOL price predictions here.
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