The post Cryptocurrency Analytics Company Releases Critical Price Levels for Bitcoin, Ethereum and Solana appeared on BitcoinEthereumNews.com.

Cryptocurrency analytics firm MarktQuant has released its latest assessment, providing insight into the current state of major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). According to MarktQuant, Bitcoin’s valuation has fallen to 0.93, indicating potential near-term weakness. The analysis suggests that a retest of the key volume level around $67,500 could be possible before any rally. This aligns with Bitcoin approaching an oversold point within its volatility bands. Despite the recent breakout attempts, the firm remains cautious, stating that the move is not convincing. BTC needs to decisively break above the $78,600 level for a confirmed bullish trend. Until then, mean reversion patterns are expected to hold, keeping the coin in its current range. In contrast, Ethereum has shown relative strength with a near-neutral valuation at -0.07. The analysis suggests that if ETH can break above $2,600, it could signal upward momentum, supported by the current support levels. Solana’s valuation has fallen to 0.52, indicating near-term weakness while remaining in positive territory. SOL is currently testing the -1 standard deviation (SD) channel, suggesting it should hold above this level. MarktQuant notes that if Bitcoin’s price weakens further, SOL could find support at the high-volume level around $148. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/cryptocurrency-analytics-company-releases-critical-price-levels-for-bitcoin-ethereum-and-solana/

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Filed under: News - @ November 2, 2024 8:17 pm