Bitcoin Analyst Warns of Potential Drop, Highlights Promising Altcoins
One respected crypto analyst believes that Bitcoin is at a critical juncture, emphasizing the need for the leading cryptocurrency to maintain current price levels to avert a steep decline. The analyst, with a significant social media following, underscores the importance of Bitcoin holding a specific price range to sustain its upward trajectory. Additionally, the analyst identifies two altcoins showing promise for traders to monitor closely.
Bitcoin’s Current Situation and Potential Price Movement
- Bitcoin’s price is at a range low, crucial for maintaining upward momentum.
- If Bitcoin fails to hold current levels, a potential drop to $52,000-$55,000 is anticipated on this correction.
Altcoin Analysis: AIOZ Network
- AIOZ Network is a blockchain project targeting Web3, AI, storage, and streaming.
- AIOZ’s promising outlook is highlighted as one of the strongest trending assets.
- The key support level to monitor is $0.65-0.68.
- If support is maintained, a price target of $1.35-1.45 is suggested.
- Current price: $0.853
DeFi Protocol Analysis: Injective
- Injective is a decentralized finance (DeFi) protocol.
- Despite a significant decline since December, Injective is viewed as having further upside potential.
- Rotation from altcoins like Injective to Bitcoin is recommended for maximizing returns.
- Current price: $23.69
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Featured Image: Shutterstock/Kiselev Andrey Valerevich
The post With Bitcoin at a ‘Range Low’, Crypto Analyst Picks Out Two ‘Promising’ Altcoins for Traders To Watch appeared first on The Daily Hodl.
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