While waiting for data from the USA today in Bitcoin, BTC went up to $ 27,240. However, it fell back to $27.70 levels.
While investors were waiting for BTC to rise, a bearish warning came from the cryptocurrency analyst using the nickname Altcoin Sherpa.
Bitcoin and Ethereum (ETH) rival Solana (SOL) has issued a bearish warning in the short term.
Sharing on his Twitter account, the analyst stated that Solana may decrease by more than 30% from its current value.
Saying that Solana's volume carries a major collapse risk, the analyst said that when looking at the SOL chart, the next high volume support level to the downside is the $14 to $15 range, which was last seen in January.
“SOL's daily EMAs (exponential moving averages) are all good but actually at a scary point.
If Solana breaks below the current zone, I think SOL price will likely drop to the $14-15 zone.
As of now I don't see the graph of SOL well. But in the long run I expect SOL to rise and be a good investment given its strong community."
Altcoin Sherpa studied Bitcoin second. Expecting a drop in BTC, as in Sola, the analyst said that BTC is on the verge of falling to at least $25,000, or even $23,000.
“My update on BTC price: I still think there are too many factors for $25,000 not to come. But I'm waiting for the low to form in BTC.
Past lows were a jolt to start this decline.
I predict that the momentum of breaking the support levels will cause Bitcoin to drop below $25,000 or even $23,000 before retracing the $25,000 level as support.
At this point, we will wait and see whether $25,000 or $23,000 will come as the bottom of Bitcoin."
BTC continues to trade at $27,068 at the time of writing.
*Not investment advice.