Bulls started to run again in the cryptocurrency market. Bitcoin maintained the $34,000 level and it is gathering strength to continue above $35,000. Meanwhile, some cryptocurrencies that were running breathlessly took a break. A crypto analyst with a large following in this environment points to two altcoin projects ready for a breakout while updating his FET outlook.
Pentoshi, Predicts a consolidation for FET
cryptokoin.com As you can follow from , the market is in good spirits for now. The bulls returned to the green pastures. During this period, some tokens showed extraordinary performance. The crypto analyst, nicknamed Pentoshi, shared his predictions about the latest developments in the market to his 707,100 Twitter followers. The analyst first looks at the popular artificial intelligence coin Fetch.AI (FET). Pentoshi says FET is likely entering a consolidation phase after rising 307% year-to-date. In this context, the analyst makes the following statement:
Update: medium-term resistance holds out. I’m predicting a week or so of consolidation and chops at FET before anything more significant happens. It’s a very strong move, so naturally there is profit making and coins changing hands.
Meanwhile, FET opened the year at $0.0922. The altcoin made a strong run, reaching $0.3909. After pulling back from this level, it was trading at $0.375 at the time of writing.
“ Leading altcoin rival Solana will refuel at $32!”
The analyst then moves on to Solana (SOL), the popular altcoin project of recent times. Pentoshi predicts that SOL will likely move into higher ranges before pulling back to the $32 level. In this direction, the analyst says that SOL will initiate another upward move. He expresses his views on this subject as follows:
SOL is making those equal highs from the top of the range and likely has a chance to refuel in the $32 mid-range over the next few weeks.
Meanwhile, Solana was trading at $40.98 at the time of writing, down 2.85% over the last 24 hours. However, the altcoin is sitting on a weekly gain of around 27%.
While Bitcoin attempts a peak, the leading altcoin is preparing for a breakout!
The analyst also updates his perspective on Bitcoin (BTC). Pentoshi is predicting a new high of $37,000 before falling to a new support level of $33,000 this year. Additionally, the analyst predicts that Bitcoin will surpass $40,000 in early 2024. “I think we will see something like this for BTC in the short term,” accompanied by a chart. says.
Finally, the analyst looks at the leading altcoin Ethereum (ETH). Pentoshi says ETH is setting the stage for a major move to the upside after breaking through a key $1,821 level. In this context, the analyst makes the following statement:
ETH is heading towards a breakout. It is slowly rising, I expect the momentum to increase.
Meanwhile, Ethereum was trading at $1,804 at the time of writing. The leading altcoin is down 2.64% on a daily basis and remains flat on its weekly chart.