A popular analyst is diving into the price charts to provide updates for a trio of crypto assets as the markets cool off.
Pseudonymous analyst Altcoin Sherpa tells his 180,500 Twitter followers that the trend so far for Bitcoin (BTC) in 2002 has been to fall further after each consolidation event, and so he intends to proceed cautiously in the days ahead.
“Is this time different? I don’t know. Every single consolidation has resulted in another leg down for Bitcoin this year.
Assuming the same is going to happen is probably the safest/most prudent approach [in my opinion].”
At time of writing, Bitcoin is trading for $20,954. BTC briefly topped $24,000 on July 20th but has been steadily falling ever since.
Next on the analyst’s radar is smart contract platform Solana (SOL). Altcoin Sherpa says that despite recently hitting a price peak, SOL’s 4-hour exponential moving average (EMA) leads him to believe the altcoin could drop to around $30-$32 before establishing a new zone of support....
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