The cryptocurrency market continues to follow an active course with analysts' potential earnings predictions. Particularly certain memecoins and major cryptocurrencies Solana and Bitcoin attract attention with their upward trends. These developments have the potential to impact the market by presenting significant opportunities and risks for investors.
Cryptocurrency analyst Ali Martinez stated that memecoin Brett (BRETT), which is on the Ethereum scaling solution Base, is a strong candidate to rise. According to Martinez's analysis, Brett is forming a bull flag pattern on his daily charts; This is a sign of potential upward movement in technical analysis.
Martinez predicts that Brett's current price has the potential to rise from $0.138 to $0.63, a significant increase of 357%. This prediction is based on Brett's ability to surpass the $0.15 resistance level. The current trading level also supports this bullish outlook. Investors observe that they can make significant gains if the mentioned resistance is overcome.
Apart from Brett, Martinez also focused on Solana (SOL), stating that he observed a W-shaped pattern on the 12-hour charts. This pattern usually indicates that a downtrend has ended and a new uptrend may begin. During this period when Solana is trading at $160, the completion of the pattern could lead to a significant price increase.
Martinez predicts that Solana could reach $176, a 9% increase from its current level. Such a move could have broad effects on the market in terms of short positions. He notes that a rise to $176 could lead to the liquidation of approximately $2.98 billion worth of short positions; This indicates significant changes in market sentiment.
Finally, Bitcoin also occupies an important place in Martinez's analysis. In order for Bitcoin to reach new record highs, it must revisit some price levels and stay above these levels. Martinez emphasizes that in order for Bitcoin to continue its rise, it must remain above the $62,500 level, and in order to target new peaks, it must exceed the $66,250 level; This would require surpassing the previous peak of $73,800.
According to Martinez's updates, Bitcoin is currently trading at $64,695. If these critical support levels are maintained and resistance can be overcome, a new upward wave may be triggered, which may present profit opportunities for investors. While these important levels are being monitored, both experienced traders and new investors are preparing for possible market changes.
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