In the world of crypto money, we are living in important time periods for Bitcoin and altcoins. In this context, every price movement is important for the sector. We focus on what will happen next week. Let’s look at the details.
What is the expectation of Bitcoin and Ethereum?
One of the important analysts for the Bitcoin market is Justin Bennett. Bennett shares his views for Bitcoin and Ethereum on Twitter. In this context, Ethereum is the first to deal with. According to him, Ethereum is in a critical place in the $ 1,835 band. This level controls the next move of ETH. So will it rise above $1,890 next week? Ethereum is currently below the point that Bennett made. The price is currently at $1,831. However, Ethereum is likely to hit $1,890 next week if it climbs above $1,835. Related to this, Bennett highlights the importance of Bitcoin’s closing performance today in his latest Daily Price Action newsletter. Accordingly, the Bulls try to reclaim the $26,500-$26,700 range. There is also an extraordinary struggle. After all, the daily close will provide very important information about the direction of the market. The cryptocurrency community is eagerly awaiting the outcome.
In particular, places below the $26,500 level for Bitcoin are cause for concern. Because these levels were the last level in mid-March. Currently, BTC is testing this level as resistance. Therefore, the bulls are aiming for a close above this level. If successful, the $26,500-$26,700 range will regain support status. However, if BTC fails to retrace this range, a potential drop towards $25,000 is in anticipation by the analyst. The path Bitcoin will follow if it tests the support level will depend on how the market reacts to the channel support and the $25,200 horizontal level. Bennett takes into account the recent volatility of the market. He advises not to ignore a recovery this week. A daily close above $26,500 and $26,700 would confirm a false breakout. It will ultimately open the way for $27,600, creating a potential liquidation cluster at $27,800.
Analyst MATIC expects these levels for LTC and ARB
Another closely followed analyst is Michaël van de Poppe. In a recent tweet, he includes his predictions for MATIC, LTC and ARB. For silver Bitcoin Litecoin, Poppe highlights that the $93 level is an important resistance. He states that LTC made a strong bounce from the $82 level and formed a bullish candle on a weekly basis. On the other hand, the analyst believes that LTC will start a halving rally if it rises above $93.
In addition to Bitcoin BTC, the analyst also includes his views on Polygon (MATIC). Commenting on good condition for MATIC, the analyst attributes this to a partnership with the NFT platform Ethernity Chain. The announcement was made at the Monaco Grand Prix Formula 1 race. The $0.95 level is the support point. Accordingly, exceeding this level will move the price to the $1.30-1.50 band. On the other hand, not exceeding the $0.95 level will bring short positions to the agenda. In this case, the $0.75 level will be long entries.
cryptocoin.com The analyst, whose views we have given the opinion of Arbitrum (ARB), attaches importance to the $1.18 level. Accordingly, this level is a resistance that needs to be broken and turned. If the resistance is not overcome, the bears will come forward. However, if $1.18 is broken, the price will move towards $1.30.
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