The post Here’s The Outlook for BTC, ETH, SOL & ADA Price, Traders Watch These Levels ￼ appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
The outlook for the overall crypto market remains negative as the market has kept up the bearish momentum. Bitcoin (BTC) price plunged below the crucial support level and is currently trading at $36k. Following the same trend, major altcoins are also experiencing major loss with the largest altcoin, Ethereum (ETH) price trading at $2500.
While offering updates for Ethereum (ETH), Solana (SOL), and Cardano, a widely recognised crypto analyst and the trader is warning that Bitcoin (BTC) bulls are in peril if they give up their last line of defence (ADA).
Pentoshi, a pseudonymous crypto expert, urges his 518,400 Twitter followers that bulls must defend the support at $39,000 in order to avert another BTC sell-off. He says, despite the bullish rhetoric, prices remained in line with the levels. Here’s a bull on life support.
Bitcoin will launch a recovery bounce to $42,000 before resuming its slump, according to the crypto analyst, because it is still trading above Pentoshi’s critical mark.
When it comes to Ethereum, the crypto strategist feels that the leading smart contract platform is bearish and that if it breaks support at $2,200, it would likely trade below $2,000, according to the crypto strategist.
“I will take note that there is local strength here since it held its lows ($2,200) but overall still lower highs. The trend is down. *IF* those lows break *THEN* *MOST* alts turbo nuke.”
At the time of writing, ETH is trading at $2526 down by 7% in the last 24 hours. The major resistance is at $2700 and the support is at $2500.
Solana, an Ethereum competitor, is coming next. Bulls must keep SOL above $80, according to Pentoshi. Otherwise, he sees a drop to $50 as likely.
At the time of writing, SOL is trading at $81.62 down by 13% in the last 24 hours. The major resistance is at $95 and the support is at $80.
Cardano, a smart contract platform, ranks last on the traders’ list. If ADA takes out support at $1.00, according to Pentoshi, it risks a 60% depreciation.
At the time of writing, ADA is trading at $0.83 down by 13.2% in the last 24 hours. The major resistance is at $1 and the support is at $0.5.
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