Cryptocurrency analyst Ali Martinez discussed the current state of Bitcoin and major altcoins following recent market declines.
Bitcoin Situation and Price Forecasts
Ali Martinez noted that if the Bitcoin price remains above $74,500 and then exceeds $82,000, the next potential move could bring it to $88,000. He added that regaining the $80,000 level is necessary for a potential relief rally toward $91,000; otherwise, a sudden drop may occur.
Ethereum Analysis
Speaking about Ethereum, Martinez indicated that $1,200 could be the level where ETH price may find support. At the time of writing, ETH was trading at $1,466.
Prospects for Dogecoin and Solana
Regarding Dogecoin, the analyst pointed out that the DOGE price has been following an ascending trend line since October 2023, which is now converging with the 61.8% Fibonacci retracement level at $0.13. According to Martinez, this level could act as critical support. Finally, he claimed that if the SOL price remains above $95 and breaks $121, it could see a rally towards $147.
The analysis of the cryptocurrency market indicates that key price levels may determine the next movements of Bitcoin, Ethereum, Dogecoin, and Solana. Given the current market state, investors should monitor changes closely.
