Bitcoin made a strong start to October, breaking out of the $82,000-$85,000 range where it had been trading sideways for days, and climbing above $86,000.
While BTC’s movements are closely monitored, popular analyst Ali Martinez has offered new assessments regarding Bitcoin, Ethereum, XRP, and Solana.
At this point, the analyst, in their latest assessment from account X, examined long-term charts and identified notable technical levels for Bitcoin, Ethereum, XRP, and Solana in the current bull cycle.
What are the Goals in Bitcoin?
The analyst began by noting that Bitcoin appears to have traded within an ascending channel over the past two years.
At this point, the first significant level for Bitcoin is indicated as the previously seen peak of $125,000. It is stated that if this level is surpassed, BTC could rise towards the upper limit of its long-term ascending channel, testing approximately $190,000.
Ethereum Reaches a Critical Threshold of $5,000!
The analyst noted that when examining Ethereum’s monthly chart, a rising channel that has been ongoing for approximately five years became apparent.
According to the analyst, the upper limit of the channel around $5,000 stands out as an important technical level for ETH. If ETH breaks above this region, the next target could be $8,800.
What’s the Situation for XRP?
XRP is also among the assets that stand out in the analyst’s assessment. The analyst notes that a rising triangle pattern has formed on XRP’s monthly chart, with resistance around the $3.66 level.
The analyst states that a monthly close above this resistance could confirm the breakout, bringing the formation’s technical target to around $31.87.
Solana’s Technical Target is $2,744!
The analyst believes a cup-and-handle pattern has formed on Solana’s monthly chart. According to the analyst, the neckline of the pattern is around $295. A monthly close above this level could strengthen the bullish scenario, and the technical target of the pattern could be around $2,744.
Finally, the analyst notes that these levels are projections based on technical analysis and should not be considered as definitive price targets or guaranteed results.
*This is not investment advice.
