It may be critical to speed up the recovery process before the fire of March is extinguished. Analysts are evaluating closely followed cryptos such as Bitcoin, Ethereum and AVAX to determine the critical levels for the coming weeks.
AVAX looks set to recover
The crypto analyst nicknamed Pentoshi says that despite staying away from altcoins for a while, Avalanche is showing all the right signs for a new bull run:
It’s been a long time since I bought an altcoin, but seeing that the AVAX peak is next week, I have no problem buying it at $90.
The analyst also says that investors should not ignore what Kwon said or the overall bullish catalysts for Avalanche, including negative funding rates as AVAX strengthens:
It wouldn’t make sense to personally take a short position. There may be a lot of FOMOs going to the AVAX peak and looking strong.
Pay attention to these levels in Bitcoin price
As for Bitcoin, Pentoshi thinks it could hit the $50,000 range as it eases selling pressure before continuing on a downtrend in the second quarter of this year:
BTC Macro headwinds are still very strong, but in the medium term, I think we are rebounding as sellers are exhausted before we hit any new lows or previous lows. So I think at the end of the 2nd quarter we can see an upward trend and then a downward trend.
Bitcoin and Ethereum ready for bull
This prediction was made by popular Youtube analyst Merten. Analysts with 513,000 YouTube subscribers say Bitcoin bulls have been keeping the market afloat since January as BTC repeatedly builds HL levels:
I want to go ahead and just focus on the consistent price support we’re seeing, price volatility continues to be lower since late January, but focusing on Bitcoin is really important.
Looking at Merten’s chart, it seems that BTC is about to bottom out before it even rises above $60,000. As for Ethereum in the Bitcoin pair (ETH/BTC), ETH/BTC also looks bullish unless the pair breaches the cross support, according to Merten.
Looking at Merten’s chart, ETH/BTC looks set to rally to 0.09 BTC, currently worth $3,790, in the coming months. For Ethereum, Merten thinks the leading smart contract platform could surpass $3,000 before the end of the month.