A well-known analyst of the cryptocurrency market studied the charts of the leading cryptocurrencies Bitcoin (BTC), ApeCoin (APE) and Solana (SOL), examining whether cryptocurrencies are ready for a new rally, and noted some levels for the coming week. As Somanews, we transmit analyst opinions and price analysis.
Bitcoin and Solana Hit Bottom Before Breaking Through
A well-known analyst, known under the pseudonym Altcoin Sherpa in the crypto-money industry, informs his 174,200 Twitter followers that, in his opinion, if the leading cryptocurrency Bitcoin breaks, it may exceed the level of $ 55,000, and continues:
As long as these lows hold and we still see higher lows, I think the bullish structure of the market is still intact. I think the bitcoin price will be above $55,000 in the coming weeks.
Altcoin Sherpa then reviews the Solana (SOL) first-level blockchain protocol on its perpetual futures chart dating back to early March. After Solana largely corrected the rally in early April, Sherpa believes that the smart contract platform, along with bitcoin, has bottomed out before a new breakthrough.
I still think it’s the bottom. I expect that as BTC grows, there will be more breakouts, followed by another surge.
The analyst reveals the level at which he intends to open long positions on Apecoin (APE)
Altcoin Sherpa also tracks ApeCoin (APE), a crypto asset created by Yuga Labs, co-founders of the popular Bored Ape Yacht Club (BAYC). Although ApeCoin has experienced a series of rallies since its launch on March 17, the analyst says that traditional technical analysis (TA) does not really work in relation to assets such as APE. Popular prefers to measure sentiment and use broader fundamental analysis (FA) instead.
THAT, as a rule, is not enforceable in such cryptocurrencies; see greater acceleration and the overall FA associated with it. Personally, I would not sell APE, but would invest when it starts to fall. As a scalper, I would consider tosca at $17.80.
Over the past 10 days, ApeCoin has witnessed two sharp price spikes. At first, it rose by almost 43.9 percent from $ 11.68 on April 17 to $ 16.81 on April 20, after which it adjusted. ApeCoin, which lost a little in price due to the experienced correction, rose to $19.40 with an increase of about 15.5% on the day after $16.79 on April 24, after it began to slowly recover.