Striking Crypto Forecast from Analyst: Why Next Week Matters

A closely followed crypto strategist said that he is optimistic about altcoins for the week ahead and that they will continue their current momentum.

The analyst, known by the alias DonAlt, said in a new YouTube video that he is watching the stock market closely as he believes the crypto market is still associated with the S&P 500.

According to the crypto analyst, the S&P 500 bounced off the one-month support level of around 3,600 and he predicts the index will continue to recover this week.

“The S&P 500 is starting to approach resistance now but to be honest, I wouldn’t want to go short at that resistance level. […] Even if we close at the resistance level here, I think the next week will be on the rise.”

S&P resistance chart

According to DonAlt, a potential S&P 500 jump this week would bode well for crypto assets, especially altcoins.

“This will be good for any cryptocurrency investment, be it altcoins or Bitcoin. Bitcoin also bounced off the weekly support. As I said, I expect BTC to move up, move slowly, altcoins go crazy.”

Koinfinans.com As we mentioned, the crypto strategist who studies Bitcoin specifically added that he expects BTC to continue to consolidate around $20,000, which is a positive development for altcoins to continue rallying. As for the analyst’s long-term view on BTC, DonAlt has 411,300 Twitter followers, bitcoinHe said that it is likely to trade between $18,000 and $34,000 over the next 12 months.

“If I had to make a guess.”

Cryptocurrency Bitcoin analysis

You can check the price movements here.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.

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