Leading cryptocurrency Bitcoin (BTC), It is down 1% in the last 24 hours but still remains above $42,000.
Although this drop in Bitcoin price has affected altcoins in general, the expected sharp decline has not yet come. A famous cryptocurrency analyst Ethereum (ETH) and Left (LEFT) strongly warned its investors.
SOL and ETH Alert
Famous crypto analyst Pentoshi, who has more than 500,000 followers on Twitter, warned for ETH and SOL.
The analyst emphasized that the retest of the rise experienced after $ 2,200 will be seen, that is, it can be returned to the old levels with a sharp decrease. Stating that March has a key importance in this decline, the analyst said, “Bearlin Wall” expressed as $1,750 see it as support.
$ETH for now bera retest from underside after a 50% bounce from 2.2k
Can we get the bearlin wall? March is the key to all https://t.co/EGa6WD8As9 pic.twitter.com/aDD7komuFb
— Pentoshi 🐧 Forbes worst trader 40 years running (@Pentosh1) February 12, 2022
The reason why March is seen as a key point is known as the possibility of Federal Reserve officials to increase interest rates. The rate hike in March could change everything.
The famous name, who also shared his analysis on Solana, expects SOL to see 80 dollars again. Failure to hold on to $80 may bring the price back to $50, according to the analyst.
$LEFT
Gave you $80 way back at 150+
Look for bounce to $120-130 LH (currently approaching)Then nuke it again. Let’s build some decent market structure for the year ahead and fill out the areas where no support was formed.
Invalidation of LH is reclaim pain level#fading https://t.co/Yb9Ftsj2ew pic.twitter.com/9IJLsbKcQF
— Pentoshi 🐧 Forbes worst trader 40 years running (@Pentosh1) February 7, 2022
Solana price is currently trying to hold at $ 94 and your $100 The loss was a huge blow. SOL fell to 8th place in a short time and became one of the altcoins that lost the most value in 7 days. ETH seems to be in a much better situation than SOL.
*Not Investment Advice.