Analyst Announces Bitcoin and Solana (SOL) Expectations! Shared the Levels Required to Be Overcome for Bullish Confirmation!

After the rise in Bitcoin (BTC) and altcoins in recent days, there was a sudden decline again with profit selling.

Bitcoin pulled up to $83,300, while major altcoins such as Ethereum (ETH), Solana (SOL) and XRP fell by up to 5%.

As investors try to predict the movements of Bitcoin and altcoins amid a great deal of uncertainty in the market, FxPro analyst Alex Kuptsikevich explained his Bitcoin and Solana expectations.

What Is Needed For Bitcoin To Rise?

Stating that Bitcoin and Solana are at a critical juncture, Kuptsikevich said that BTC and SOL are already testing their 50-day moving averages.

Underlining that the price must rise above the 200-day average for the expected rally in Bitcoin, the analyst said:

"Bitcoin is trading above its 50-day moving average and remains cautious.

Despite moving cautiously, Bitcoin’s holding above its 50-day average is an important and first technical attempt to reverse the downtrend.

Also, interestingly, BTC is located quite close to the 200-day average, so a second confirmation of a trend change could come quite quickly.

So only a solid close and consolidation above the 200-day moving average can confirm the reversal of the downtrend in BTC."

Finally, Kuptsikevich added that Bitcoin has already entered a resistance zone where the strength of the initial recovery may decrease.

Solana (SOL) Could Reach $180!

Stating that Solana**** has shown strength in a falling market compared to other altcoins, the analyst said that SOL is ready to rise if general market conditions improve.

Stating that Solana is also testing its 50-day average, the analyst stated that if it manages to stay above this level, SOL can reach up to $ 180.

" Solana is recovering faster than many major altcoins in a falling market, trading around its 50-day moving average of around $130.

A consolidation above this level will pave the way to $145, which is the area of previous highs. A sustained move above them would signal that the downtrend has been broken and could lead to a move to reach $180."