Top Crypto Analyst Updates His Outlook On Bitcoin (BTC), Solana (SOL) And Cardano (ADA) Here Are His Targets

[ad_1]

Widely followed analyst and trader Jason Pizzino charts the way forward for three large-cap crypto assets.

Starting with Bitcoin (BTC), Pizzino tells his 282,000 YouTube subscribers in a new video that the flagship crypto asset is unlikely to return to the November 2022 low.

“We can be macro-bullish watching the market continue to rise, but there will be pullbacks. There just has to be pullbacks.

And the key thing here that I tried to get across is, where is this dip coming from? At the moment, from what we are seeing with the indicators, it looks like we can expect a higher low

If the market drops anywhere above that previous level between $15,000 and $18,000, if it drops into the zone and then moves away, the bears are absolutely wrong because the market has not collapsed. It is essentially a higher low.

Source: Jason Pizzino/YouTube

Pizzino, who thinks Bitcoin will likely resume its uptrend once it hits a higher low, says his bullish thesis will be invalidated if and when the $15,000 BTC support level breaks down.

At the time of writing, Bitcoin is trading for $20,458.

As for Solana (SOL), the popular analyst says the Ethereum (ETH) rival has shown weakness after failing to even edge slightly closer to the August 2022 high of just under $50. .

“It is [Solana] been a big short lately. It did not come close to the August high. So that was a very clear sign of weakness for a longer-term position.

Source: Jason Pizzino/YouTube

Looking at the analyst’s chart, he seems to think Solana is likely heading towards support at around $12.50. At the time of writing, SOL is worth $18.53.

In the case of Cardano (ADA), Pizzino says the seventh-largest crypto asset by market capitalization looks weak, as does Solana after failing to form a higher high from the August 2022 high.

“The likes of Cardano have not been successful. The August highs are well and truly a long way from them at $0.60 here. [ADA] only managed to reach $0.40, currently at $0.30.

It was hitting new lows in January when other markets like Bitcoin and ETH hit higher lows. It’s the difference between a long-term weak position and a long-term strong position.

At the time of writing, ADA is trading at $0.32.

I

Don’t miss a beat Subscribe to receive crypto email alerts straight to your inbox Check price action Follow us on Twitter, Facebook and Telegram Surf The Daily Hodl Mix Check the latest headlines Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any loss you may incur is your responsibility. The Daily Hodl does not recommend the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment adviser. Please note that The Daily Hodl engages in affiliate marketing.

Generated Image: Midjourney

[ad_2]