Crypto currency strategist Pentoshi is known for successfully predicting the summit of the crypto currency cycle in 2021. In his latest statements on social media, he pointed out a potential bottom formation in the Altcoin market. According to Pentoshi, the market is not affected by negative economic news, which may be the first sign of recovery.
Negative news prices no longer affect prices
According to Pentoshi’s analysis, many crypto currencies are traded at long -term support levels. While the effect of negative economic developments on prices was felt before, it is noteworthy that this effect has decreased.
The strategist said that negative news in the market no longer determine the price movements and this could be a sign of relief. He states that assets, which have managed to hold on to long -term support levels, may tend to recover. This is considered promising for investors.
As in the example of Lido DAO (LDO), some assets continue to be traded at significant support levels. While the LDO maintains its support for $ 1.54, it is pointed out that this level creates a strong ground. On the other hand, the $ 0.27-0.28 range for IOTA stands out. Pentoshi says these levels are attractive for investors.
Altcoins in the average rotation movement
One of the prominent assets in Pentoshi’s Altcoin analysis was Pengu. Pengu Token, which is associated with NFT projects, is traded at $ 0.01 and is estimated to be up to 0.01658 dollars. The strategist stressed that this asset has begun the average rotation movement and can reach certain levels of resistance.
IOTA is one of the subcoins that the strategist attracts attention. Stating that a movement could begin towards the $ 0.27-0.28 $ range and that these levels offer historically strong support, Pentoshi pointed out that the graphics high-time support levels were re-tested.
The observation of qualified invalidations in the graphs strengthens the recovery signals. In this process, investors who closely follow support levels are recommended to take positions with more cautious and strategic moves. Under the current circumstances, there are strong signs that the market can begin to recover again.
While Pentoshi says that the market may tend to recover further, it emphasizes the importance of focusing on technical analysis and support levels of investors. In particular, the movements observed at the bottom levels indicate that the market can start a new upward wave.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and perform their operations in line with their own research.
