A prominent crypto analyst has stated that Bitcoin is currently at a critical juncture and is facing a make-or-break situation. The analyst, DonAlt, recently shared his insights on altcoins Solana and dogwifhat as well.
In a strategy session with his large following on X social media platform, DonAlt pointed out that Bitcoin’s weekly chart indicates that it could go either way. He expressed his dislike for the $60,000 range as a potential support level, stating that the current level is better and has not been tested before. If it breaks, he predicts that Bitcoin will move towards the next support level, but if it holds, new all-time highs are likely.
DonAlt also mentioned that Bitcoin has been trading within a specific range for over 100 days, and he expects a breakout to occur soon. He believes that this breakout will be significant and will likely maintain its trend for as long as the ranging period. He expressed excitement about trading major cryptocurrencies again.
At the time of writing, Bitcoin is trading at $63,670, representing a 1% decrease for the day.
Moving on to Solana, DonAlt found it surprising that the Ethereum rival has experienced a significant drop in price over the past few weeks, despite Bitcoin’s sideways trading. He noted that Solana has been steadily declining, with a 37% decrease against USD from its peak.
Solana is currently trading at $130.95, reflecting a 2.5% decrease for the day.
Lastly, DonAlt discussed the memecoin dogwifhat, which he described as looking terrible due to a sharp decline in its price. He also criticized WIF holders for being overly emotional about the altcoin’s price, even going so far as to mock them for celebrating a small daily green candle. He found the market participants’ emotional reactions quite entertaining.
At the time of writing, dogwifhat is trading at $1.84, experiencing an 8.5% decrease for the day.
In conclusion, DonAlt provided his insights on Bitcoin, Solana, and dogwifhat, highlighting the critical levels and trends for each cryptocurrency.
