The analyst stated that he admires Bitcoin and says that he predicts a rise for this cryptocurrency.
Cryptocurrency bullish awaits
A widely followed crypto trader says that Bitcoin (BTC) and the two other altcoins have much more room to run in their rally. Nicknamed analyst Pentoshi tells his 675,200 Twitter followers that Bitcoin could rise 30%. He says that the strength of the daily candle for Bitcoin led him to predict a higher rally to $32,000. According to cryptokoin.com data, Bitcoin is worth $24,894 at the time of writing.
The popular trader also foresees a rally for Polygon (MATIC). With the excitement of the planned March 27 launch of the blockchain’s scaling upgrade zero-knowledge Ethereum Virtual Machine (zkEVM) mainnet beta, Polygon says it will turn the $1.30 price level from resistance to support. He says Polygon could head towards $1.80 later. MATIC is trading at $1.43 at the time of writing.
Pentoshi also says that Polygon has reached its all-time high price against Bitcoin, which is a possible rally. He also stated:
“I also looked at the MATIC/BTC pair for some confluence. I was surprised how well it held up. It literally takes the lead with its ATH against BTC. There may be a price discovery here sometime next month. The first place I will add is $1.30, and $1.25-0.27 if we get it.”
Finally, Pentoshi says The Sandbox (SAND) should return to highs after a period of consolidation. SAND is trading at $0.75 at the time of writing.
Roadmap for BTC and ETH
The analyst and trader details the path forward for two leading crypto assets, Bitcoin (BTC) and Ethereum (ETH). Starting with Bitcoin, crypto analyst Altcoin Sherpa tells 10,700 YouTube subscribers in a new video that if Bitcoin breaks above the 2023 high of $24,200, it will show that it is in a bullish phase.
However, the crypto analyst and trader says that a lower high would be a bearish indicator for Bitcoin. “You know, there are some bearish indicators that you know, if we hit lower, $22,000 comes back to say $23,000, and then pulls us down or breaks here, obviously we’re going down to $20,000 at that point.” said.
According to altcoin Sherpa, Bitcoin could rise over 30% from current levels and then drop below the 2022 low of $16,000. Returning to ETH, Altcoin Sherpa says that depending on Bitcoin’s behavior, the second-largest crypto asset by market cap could rise over 25% from current levels.
According to the crypto analyst, traders should wait for Ethereum to break above the $1,700 resistance level before considering a long entry. Ethereum is trading at $1,654 at the time of writing.
It will strengthen the crypto ecosystem
A widely followed analyst says recent regulatory concerns from the US Securities and Exchange Commission (SEC) will only strengthen the crypto ecosystem. Crypto analyst Michaël van de Poppe told his 648,200 Twitter followers that the SEC’s recent restrictions represent a major blow to crypto, but that traders must trade Bitcoin (BTC) by price, not content.
With a particular focus on Bitcoin, Van de Poppe expects some minor dips for BTC before it goes up. Bitcoin, worth $24,894 at the time of writing, appears to be in the uptrend that Van de Poppe predicted. The trader expects BTC to continue its bullish trend. The analyst said in a statement:
“After breaking $25,000, we will continue towards $30,000-35,000 for Bitcoin.”
Starting from BTC, Van de Poppe also evaluates the trending Ethereum (ETH) rival, Phantom (FTM). In his statement he said:
“This represents a 40% jump from the desired level in FTM. I expect some stabilization, so I’ll be interested in $0.47 and $0.52 before continuing the recovery.”
43104
