Heres Whats Next for Bitcoin, Ethereum, Solana and One Gaming Altcoin, According to Top Crypto Trader

Widely followed analyst Justin Bennett looks at some of the top crypto assets as the market ends the week high.

In the latest edition of the Trader’s Cryptocademy newsletter, Bennett identify $24,200 is a significant success or failure level for Bitcoin (BTC).

Bitcoin is struggling to close above the $24,200 area I have mentioned over the past few weeks. A daily close above it is needed to support and expose the $25,400 area. .

Alternatively, a break below $24,200 will hold as resistance. Additionally, going above a level and then back down will cause a fake out. “

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 of potential volatility for the leading smart contract platform Ethereum (ETH).

ETH is struggling a bit in the $1,900 area today.

The pullback from Ethereum should stay above $1,780 on a daily close basis for the market to remain constructive. Below that, you’ll find that larger retracements begin.

If ETH manages to break above $1,910 on a daily close basis, the next stop will be $2,150. “

Ethereum continues to surge as ETH is currently trading at $1,962.

Bennett also looks at the layer 1 protocol Solana (SOL). He expects volatile price action if ETH competitors move upwards, noting that $40 is a key support level.

The one to watch is SOL. The downtrend line from the end of last year and the uptrend line from the June lows form a sizeable triangle.

Considering the market has been coiled for almost two months, I think the next breakout will be very volatile.

The downside targets are $32 and $26, and the upside targets are $47.50, $53 and $60. The $40 area is SOL’s must hold level. “

Solana continues the trend of positive market momentum changing hands at $47.19.

Bennett concludes his crypto analysis by evaluating Sandbox (SAND), an Ethereum-based virtual world. Analysts observe that altcoins could come under significant sell-side pressure if prices rise above $1.50 while the Metaverse Games are at a critical crossroads.

SAND is still consolidating in the pattern I mentioned a week ago.

A higher break will open the $1.50 area and a lower break will target levels like $1.30 or $1.00.

The trendline from November at $1.50 is likely to attract a lot of sellers, so be careful if it rises. “

The sandbox is currently trading at $1.36, experiencing a volatile week of trading.

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