Ethereum (ETH) and two of its strongest competitors could take action in the coming weeks, according to a popular Twitter analyst. Current levels have been confirmed as support after the altcoin market has spent the past few weeks recovering. Let’s take a look at technical analysis for a few price predictions…
Altcoin analyst shares rally prospects for Solana and Avalanche
Twitter analyst nicknamed Pentoshi has 553,200 Twitter followers on smart contract platforms Solana ( SOL) and Avalanche (AVAX). According to the crypto analyst, both AVAX and SOL can be expected to start rallying after two ETH rivals find buyers from a key support zone.
At the time of writing, SOL is trading at $49.28, down over 8% in the last day. After briefly recovering on May 23, it has declined today. With the recent price movements, it took the depreciation from last week by more than 10%. For the next technical levels, the analyst is following the chart above.
AVAX is currently trading at $28.35, down 11% from the previous day. It has struggled to maintain $30 as support for a while. With the last drop, it has lost more than 20% since last week. We saw that AVAX price made ATH at $146.22 in November.
Analyst finally updates his Bitcoin predictions
Pentoshi predicts that in the coming weeks, Bitcoin will dominate the market and climb to its target of around $36,000.
Bitcoin is trading at $29,282.31 at the time of writing. It has lost 4% in value since last week. It fell slightly below $30,000 on May 24.
Critical mining decision from Russia
Kriptokoin.com , as we have mentioned in the news, the legislators in the lower house of the Russian parliament also made a special decision for mining operators. they renounced the notion of registry. In less than a month, a crypto mining bill in the Russian parliament has lost a few key points, such as a bill, the requirement for mining operators to participate in a private registry, and a one-year tax amnesty for anyone who signs up. As a result, crypto mining firms must register as sole proprietors or self-employed in order to start mining.
