A popular cryptocurrency strategist and trader has shared his predictions for the price targets of Bitcoin (BTC) and two other altcoin projects. In a recent strategy session, analyst Jason Pizzino, who has a substantial following on YouTube, explained that based on the average true range (ATR) indicator, Bitcoin is likely to surpass key resistance levels. The ATR indicator measures volatility by analyzing an asset’s trading range during a specific period. Pizzino pointed out that when the ATR indicator reaches a local low and the price of Bitcoin continues to consolidate or forms higher lows, the cryptocurrency has historically experienced upward movements. Pizzino’s target prices for Bitcoin are $63,300 on the daily chart, $65,200 on the weekly chart, and $72,000 on the monthly chart. As of now, Bitcoin is trading at $60,176, representing a decrease of nearly 3% in the past 24 hours.
Moving on to Ethereum’s competitor, Solana (SOL), Pizzino believes that it will approach its current cycle peak. He noted that with the formation of higher lows and an attempt to break above the 50% level at $137, Solana’s next target on the weekly chart is $165. Pizzino also mentioned that the price could reach $190 and $210, with the latter being the current top for Solana. However, he emphasized that the longer-term time frames, such as the weeklies, have not yet confirmed these targets. At present, Solana is trading at $141, indicating a decline of more than 8% in the last 24 hours.
Lastly, Pizzino predicted that Render (RNDR), a blockchain for graphics processing unit (GPU) rendering, will regain a double-digit value. He explained that for this to happen, higher lows need to be observed over the next few months, possibly up to four months, leading up to the US presidential election. Pizzino mentioned that if he continues to see higher lows, it would not deter him from entering the market if it breaks out during that period. At the moment, Render is trading at $7.04, reflecting a decrease of 7.7% in the past 24 hours.
It’s important to note that the opinions expressed by Pizzino are not investment advice, and investors should conduct their own research before engaging in high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Additionally, The Daily Hodl, where the article was sourced from, does not recommend buying or selling any cryptocurrencies or digital assets, nor is it an investment advisor.
