Before the fire of March fades, it can be critical to speed up the recovery process. Analysts are evaluating closely followed cryptos such as Bitcoin, Ethereum and AVAX to determine the critical levels for the coming weeks.
AVAX looks ready to rally
The crypto analyst nicknamed Pentoshi says that despite staying away from altcoins for a while, Avalanche is showing all the right signs for a new bull run:
A It’s been a long time since I bought altcoins, but seeing that the AVAX peak is next week, I have no problem buying it at $90.
The analyst also says that investors should not ignore what Kwon said or the overall bullish catalysts for Avalanche, including negative funding rates as AVAX strengthens:
It wouldn’t make sense to go short personally. There may be a lot of FOMOs going to the AVAX peak and looking strong.
Note these levels in Bitcoin price
As for Bitcoin, Pentoshi thinks it could reach the $50,000 range as it eases selling pressure before continuing a downtrend in the second quarter of this year:
BTC Macro headwinds are still very strong, but in the medium term, I think we are rebounding as sellers are exhausted before we hit any new lows or previous lows. So I think at the end of the 2nd quarter we can see an upward trend and then a downward trend.
You can access the current Bitcoin on-chain analysis, which we have compiled as Cryptokoin.com.
Bitcoin and Ethereum bull-ready
This prediction was made by popular Youtube analyst Merten. Analyst with 513,000 YouTube subscribers says Bitcoin bulls have been keeping the market afloat since January as BTC repeatedly builds HL levels:
I want to continue and focus only on the consistent price support we’ve seen, price-to-price eagerness has been more since late January. continues to be at lows, but it’s really important to focus on Bitcoin.
Looking at Merten’s chart, it seems that BTC is about to bottom out before breaking above $60,000. As for Ethereum in the Bitcoin pair (ETH/BTC), ETH/BTC also looks bullish unless the pair breaks the cross support, according to Merten. Looking at Merten’s chart
, ETH/BTC looks set to rally to 0.09 BTC, currently worth $3,790, in the coming months. For Ethereum, Merten thinks the leading smart contract platform could surpass $3,000 before the end of the month.
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