Despite a slight cooling in cryptocurrency prices over the past 24 hours, well-known analyst Jason Pizzino believes this rally still has plenty of fuel left.
Current Situation in the Crypto Market
According to the latest analysis, current price levels are near key resistance zones. The market capitalization stands at approximately $3.64 trillion, bringing it closer to the important psychological mark of $4 trillion.
Jason Pizzino's Forecasts
Analyst Jason Pizzino has analyzed price structures in the market from 2022 to February 2024. He identifies several major resistance levels, including $3.8 trillion, which may serve as a short-term ceiling. Furthermore, he points to potential targets of $4 trillion, $4.7 trillion, and even as high as $5.3 trillion, based on methods traders use to anticipate future price reactions.
Potential for Further Growth
Despite recent volatility, Pizzino maintains an optimistic tone. He believes that this cycle has not yet reached its euphoric phase, and if momentum continues, the market could change rapidly. The lingering question is whether cryptocurrency can break through the psychological barrier of $4 trillion and venture into uncharted territory.
In conclusion, the cryptocurrency market shows potential for growth, and considering the resistance levels discussed, analysts predict further upward movement.
