Ali Martinez provides a bearish outlook on Solana, predicting a potential drop to $65 unless it surpasses resistance at $138. He identifies significant support for Bitcoin at $82,024 and predicts a rebound for Ethereum, which sits above a vital support level of $1,546.55.
Cryptocurrency trader Ali Martinez expresses a bearish sentiment towards Solana (SOL), predicting potential declines of up to 48%. He notes that SOL must exceed the resistance level below $138; otherwise, it may reattempt to break out from a right-angled ascending broadening pattern, thereby maintaining a lower target of $65. As of now, Solana is priced at $125.
Examining Bitcoin (BTC), Martinez highlights a significant accumulation zone around $82,024, where 96,580 BTC have been purchased according to Glassnode data. This level is deemed critical for potential buying interest in the event of a downturn, with Bitcoin currently trading at $83,999.
Regarding Ethereum (ETH), Martinez suggests it is poised for a substantial rebound. The Tom DeMark (TD) Sequential tool indicates a bullish signal on the weekly timeframe, pointing towards possible trend reversals. He identifies the primary support zone for Ethereum at $1,546.55, where 822,440 ETH were accumulated previously. Presently, Ethereum is valued at $1,582.
