Ethereum
What’s next for Bitcoin, Ethereum and Solana?
Analyst Josh, in his latest analysis video, emphasized that Littlevsoin saw minimal price movement over the weekend, with only a slight rise observed. However, historical data over the past month reveals a pattern in which volatility tends to increase as the weekend draws to a close and the new week begins.
Analyzing the current Bitcoin chart, the analyst noted that Bitcoin could form an inverted head and shoulders pattern, which is a bullish indicator. To confirm this trend, Bitcoin needs to rise above $71.7k, ideally with a 3-day candle closing above $73k to $74k. Although Bitcoin has seen a temporary pause in its broader uptrend, short-term fluctuations are expected even in a bull market.
Currently, Bitcoin appears neutral in the short term, consolidating between support between $67,000 and $68,000 and resistance between $72,000 and $74,000. Overall, Bitcoin remains in a broader uptrend, with neutral near-term behavior and potential for future gains if key resistance levels are breached.
Will Ethereum Surpass $4,000 Levels?
Analyzing Ethereum On the daily time frame, the analyst said that ETH currently lacks short-term momentum. However, the breakout from the falling wedge pattern remains valid as long as ETH remains above the $3.2K level. This breakout suggests a potential price target of around $4,070.
On an 8-hour time frame, ETH finds strong support in the golden pocket between $3.6k and $3.650, a former support and resistance zone. If ETH falls below $3.6K, the next major support levels are $3.450 and $3.3K. However, if ETH bounces off this support, it will face resistance at $3,820, $3,870, and $3,950. On the weekly ETH/BTC chart, Ethereum continues to show a downtrend against Bitcoin, maintaining a trend that has persisted for years.
Solana lacks momentum
Solana saw a brief decline below $160 but quickly regained that level. This indicates that $160 remains a critical level to watch. The decline and rapid recovery suggest that Solana is lacking momentum in the immediate near term and would have been likely to head towards the next major support zone between $140 and $144. Therefore, Solana is expected to experience erratic and sideways price action over the coming days.