A widely followed analyst is laying out his forecast for Bitcoin (BTC) and two Ethereum (ETH)-rivals as the crypto market goes deeper into the red territory.
In a new video, Jason Pizzino tells his 279,000 YouTube subscribers that Bitcoin may see a recovery from the crypto exchange FTX-driven market crash if it breaches above $18,150.
“If you can get back into this zone here of $19,000, that’s even better. That’s going to be stronger because we’re seeing buying come into the market towards the close and as we know, professionals control the close. We’re going up pushing that price up after such a big scare, where everyone freaks out, dumps whatever they have thinking that we’re going to go lower.”
The trader also warns that Solana (SOL) may slide further to $12.50 if it falls below $19.
“It was a previous support zone, so $19, that’s all I’m looking for here and it’s touched that, rebounded so far. It’s finding some support for the time being but if it breaks $19 and closes below that over the coming days to weeks, I’m probably going to look somewhere around $12 to $13 for the next low.”
Amid the worsening market conditions, Pizzino also says that Binance Coin (BNB) remains strong.
“BNB is still looking strong, none of these lows have broken here yet, so just be on alert for a good buying opportunity if you’re looking to enter BNB. BNB/ETH also potentially peaking out. BNB/BTC also potentially peeking out here. It’s gone on a very, very strong run for months so you have to expect some sort of pullback as well.”
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