Crypto Capital Venture delved into the potential impact of the 4-hour chart on the cryptocurrency market’s trajectory in the upcoming week. The analyst emphasized the significance of this chart in determining whether the current cycle differs from previous ones.
Observing a move just below the bull market door area, the analyst deems this week crucial for deciphering the market’s direction. The analysis also considers the upward momentum of Bitcoin and its potential repercussions on altcoins like ADA, AVAX, and Solana.
Discussing potential targets for these altcoins, the analyst outlines bullish scenarios. Speculation arises regarding Bitcoin gaining momentum before the halving and its potential influence on altcoin targets.
The analyst suggests the possibility of encountering short-term resistance, potentially leading to a retracement. Notably, an ascending triangle pattern is observed, hinting at a bullish narrative, particularly for ADA.
ADA’s medium-term target leading up to the halving event is projected at $120, contingent upon Bitcoin’s continued upward trajectory. Initially, ADA’s target is set at $0.65, presenting a bullish outlook.
Similar bullish setups are noted for AVAX, attributed to its relative novelty in the market. AVAX’s target stands at around $50, with potential consolidation indicating a triangle pattern formation and a breakout target of $100.
Attention is then turned to Solana, highlighting a bullish scenario with an inverse head and shoulders setup. A target of $140 is projected, with the rising wedge pattern indicating potential gains of approximately 130% post-halving.
