Credible Crypto, a prominent cryptocurrency analyst and trader, has pinpointed essential support levels for Solana (SOL), Bitcoin (BTC), and Dogecoin (DOGE). He emphasizes that these thresholds are vital for the ongoing rallies of these digital currencies. According to the analyst, synchronized key levels for SOL, DOGE, and BTC might offer temporary relief for Solana and Dogecoin if Bitcoin recovers from its current lows.
Why Is Solana’s Support Level Crucial?
Credible Crypto, who boasts a significant following on X, stressed that Solana is at a make-or-break juncture. He warned that Solana might plummet to $115 if it slips below the $140 support. Viewing the $140 mark as a possible relief point, he has halted his short positions to monitor market behavior. Currently, SOL is trading at $155, up 5% in the last 24 hours. His analysis suggests that retaining the $140 support could allow Solana to reach $230, highlighting its importance for maintaining an upward trajectory.
How Critical Is Dogecoin’s Current Status?
Credible Crypto underlined Dogecoin’s precarious position, stressing that DOGE must stay above the $0.13 support to facilitate a rebound around $0.19. If DOGE holds this level, it might provide an exit opportunity for those who bought at higher prices. Presently, DOGE is trading at $0.14, up 5.4% in the last 24 hours. The coin’s future rise hinges on its ability to maintain the $0.13 support.
On Bitcoin, Credible Crypto indicated that the $60,000 support level is critical. He cautioned that failing to stay above this threshold might jeopardize the upward trend. Bitcoin recently hit its lower target with offers between $62,000 and $65,000, and demand above $67,000 to $68,000. Currently, BTC is trading at $67,457, up about 2% in the last 24 hours. The analyst anticipates Bitcoin to climb to around $77,000 after reaching its bottom, but warns that a dip below $60,000 could threaten the sustainability of the current upward trend.
Key Takeaways for Traders
– Solana must stay above $140 to potentially reach $230.
– Dogecoin’s survival above the $0.13 support is crucial for a rebound to $0.19.
– Bitcoin needs to maintain its $60,000 support to avoid jeopardizing its upward trend.
In conclusion, Credible Crypto’s analysis underscores the importance of these support levels for Solana, Bitcoin, and Dogecoin. Traders should closely monitor these critical points to make informed decisions and manage risk effectively.