What’s Next for Bitcoin, Ethereum, Solana and One Gaming Altcoin, According to Top Crypto Trader – The Daily Hoddle

Widely followed analyst Justin Bennett is weighing in on several top crypto assets as the markets end the week on a high.

In the latest edition of the trader’s Cryptokadami newsletter, Bennett stated that $24,200 is a critical make-or-break level for Bitcoin (BTC).

“Bitcoin has been struggling to close above the $24,200 I mentioned for the past two weeks. It will close daily above that to support it and expose the $25,400 area.

Alternatively, a close below $24,200 would keep it as resistance. Moreover, returning below the threshold after approximation will result in false positives.

Source: Justin Bennett/Cryptocademy

At the time of writing, Bitcoin is trading at $24,522, up more than 5% from a week ago.

Bennett then identifies a narrow range in which smart contract platform Ethereum (ETH) will swing, with $1,780 a necessary low to protect and $2,150 a potential short-term high.

“ETH is struggling a bit today around $1,900. Not surprisingly, we know that sellers can defend that level.

Any pullback from Ethereum must stay above $1,780 on the daily close for the market to remain bullish. Anything below that and we could see an even bigger reset.

If ETH can get above $1,910 at the daily close, the next stop will be $2,150.

Fig
Source: Justin Bennett/Cryptocademy

As ETH is currently trading at $1,962, Ethereum continues to rise.

Bennett also examines the Solana (SOL) layer-1 protocol. Expect some price action if the ETH competitor moves higher, noting that $40 is an important support level.

« SOL is one to watch. There is a nice big triangle formed by the downtrend line from late last year and the uptrend line from the June low.

As the market has been circling for a couple of months, I expect the upcoming rally to be very volatile.

Low targets include $32 and $26, while upside targets are $47.50, $53 and $60. The $40 area is a must-hold level for SOL.

Fig
Source: Justin Bennett/Cryptocademy

Solana continues its positive market momentum change trend at $47.19.

Bennett concludes his crypto analysis by reviewing The Sandbox (SAND), an Ethereum-based virtual world. The analyst noted that while the Metaverse game is at an important crossroads, the altcoin could see significant sell-side pressure if its price rises above $1.50.

“The SAND is still consolidating in the pattern I mentioned a week ago. But the market is running out of space and will be forced to make a decision in the next few days.

A break higher would open the $1.50 area, while a break lower would target levels like $1.30 or even $1.00.

The $1.50 trend line from November could attract more sellers, so be careful if we make a break higher.

Fig
Source: Justin Bennett/Cryptocademy

Sandbox has experienced a rocky week of trading, trading at $1.36.

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Disclaimer: The opinions expressed in The Daily Hoddle do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be aware that your transfers and trades are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hoddle participates in affiliate marketing.

Source image: StableDiffusion

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