DailyBubble News
DailyBubble News

Everything Looks Well for Ethereum, Solana and Binance Coin; Altcoin Rally Soon?

Jason Pizzino recently analyzed the market and identified a stealth zone indicating a significant low. During these periods, fear rises, and market interest declines, resulting in smaller range bars after initial scares. However, key levels like the 50% mark are holding, with lows remaining slightly higher, suggesting a potential major upward move. Pizzino believes the market is set to gradually recover in the coming months as he examined top coins and their technicals.

Altcoins like ETH/USD are displaying relative strength, staying above key 50% levels. Ethereum, for example, has maintained its position above the 50% mark established during the May low, despite broader market declines. Recent positive news, such as the SEC dropping cases, has contributed to Ethereum’s price stability.

While many coins have seen significant drops recently, Ethereum has held its ground. Pizzino notes that if Ethereum drops to around $3,400, he would look for support at $3,200. However, a fall below $2,829 could indicate less positive ETF news than expected.

Solana is also in a strong position, above the 50% mark of the bear market range, with support at $109. Pizzino sees a bullish structure with Solana forming higher lows, consistent with past correction patterns ranging from 37% to 52%.

Binance Coin experienced an early upside move, and a breakdown from around $540 could signal a fake out. A retest of the $420 to $520 zone may occur in this scenario. Despite reaching new all-time highs, BNB must maintain its price levels to confirm bullish momentum.

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