Cryptocurrency analyst Ali Martinez discussed the situation of Bitcoin and major altcoins after the recent declines in his statement.
Starting with Bitcoin, Martinez said that if the BTC price stays above $74,500 and then surpasses $82,000, the next move could be towards $88,000.
However, in a technical analysis in which he shared the chart, he added that if the structure formed for Bitcoin is indeed a channel formation, $80,000 must be taken back for BTC to potentially experience a relief rally towards $91,000, otherwise a sudden drop may be encountered.
Speaking about Ethereum, Martinez said that $1,200 could be the point where ETH price could find a bottom. At the time of writing, ETH is trading at $1,466.
Regarding Dogecoin, the analyst said that the DOGE price has been following an ascending trend line since October 2023, and that this line is now converging with the 61.8% Fibonacci retracement level, which is at $0.13. According to Martinez, this point could act as critical support.
Finally, speaking about Solana, Martinez claimed that the TD Sequential metric on the weekly chart shows that if the SOL price stays above $95 and breaks $121, it could experience a rally to $147.
*This is not investment advice.
