Crypto Analyst Predicts MATIC/BTC and SOL/BTC May Fade Into Lower Regions

Coin Edition
Coin Edition

28 Jun 2023 8:52 AM

Benjamin Cowen, the founder of ITC Crypto, has identified a weakness between MATIC to Bitcoin and SOL to Bitcoin. Read more....

  • Benjamin Cowen, founder of ITC Crypto, has identified weaknesses between MATIC to Bitcoin and SOL to Bitcoin.
  • MATICBTC traded within a specific range throughout Bitcoin's bear market and is currently fading towards the lower part of the range.
  • Cowen noted that MATIC is trading below 1700 sats and breaking below the current support could lead to a significant drop.
  • SOLBTC has maintained a consistent downward trend over the past two years, with a pattern of pumps and dumps.
  • Cowen observed that people get sucked in on each pump with SOLBTC, only for the price to fade and put in new lows.
  • The pair has broken below the latest support, raising concerns of more significant losses for SOL holders.
  • The outlook for both MATICBTC and SOLBTC does not look promising, as many altcoin holders prefer exchanging them for Bitcoins.

The sentiment in the article is negative, as it highlights weaknesses and potential significant drops for MATICBTC and SOLBTC. It also mentions concerns of more significant losses for SOL holders.

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You May Ask

What weaknesses did Benjamin Cowen identify between MATIC to Bitcoin and SOL to Bitcoin?How did MATICBTC trade during Bitcoin's bear market?What is the current market situation for MATICBTC?What pattern did SOLBTC maintain over the past two years?What are the concerns for SOL holders regarding the recent support level?

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