Here Are Potential Bottoms for Bitcoin (BTC), Ethereum (ETH), Solana (SOL), And Cardano (ADA)
While bitcoin Price hit a six-day high at $43,000, most altcoins showed impressive gains on a daily scale. ETH gained a pace above $3,150 and briefly spiked above $3,250. XRP was able to gain strength above $0.75, while ADA broke the $1.20 resistance zone.
Is the crypto market back on track or bears gain control again?
Capo, a pseudonymous analyst, informs his 232,000 Twitter followers about possible bottoms in Bitcoin and Ethereum, as well as smart contract platforms Solana (SOL) and Cardano (ADA).
Potential bottoms:$BTC $40k$ETH $3k$ADA $1.02$SOL $125— il Capo Of $NOIA (@CryptoCapo_) January 8, 2022
When it comes to Bitcoin, the expert predicts a scenario in which BTC drops below $40,000 before rebounding strongly and reclaiming the $50,000 mark.
According to Capo, the current price range for Bitcoin represents one of the most promising trade opportunities for 2022. The trader sees a buying opportunity between $40,000 and $45,000 calling it one of the best purchasing chances of the year.
Bitcoin Price started to recover after a close above $41,500 and surged above the $42,500 level. The Flagship currency also broke the $43k level but failed to gain strength. BTC is now consolidating gains near $42,700. The Resistance now lies at the $43,000 level.
Incase of an upward trend, the next major resistance is near $43,500, above which the price might start a move towards the $44,500 level.
On the other hand, initial support is near the $42,000 level. In an extended bearish trend, the next key support is near $41,750, below which the price might retest 40,500.
Capo believes Cardano will continue to go below current pricing and end up in the $1.00 range before reversing course. He says that ADA has broken through support and is now trading in the buy zone.
Cardano (ADA) was able to clear the $1.180 resistance levels. It surged above $1.20 and is currently consolidating. The next major resistance is near $1.22, above which the price could accelerate higher towards the $1.25 level.
While the crypto trader’s short-term analysis on Cardano appears to be gloomy, his longer-term outlook is bullish. Capo made a Cardano prediction last month that puts ADA 600% higher than current prices. He believes that if ADA can hold the $1.00 level, a rise to $10 is possible this market cycle.Source