The Evaluation by Crypto Maestro
Renowned cryptocurrency analyst, Il Capo of Crypto, recently provided insights into the current status of Bitcoin (BTC), Uniswap (UNI), and Solana (SOL).
Bitcoin’s Price Trends
According to the analyst, the surge in Bitcoin’s price from $25,000 to $40,000 and further to $50,000 was supported by increasing demand. However, there was a notable absence of excess demand during the subsequent rise from $50,000 to $64,000.
Furthermore, it was observed that significant whales consistently offloaded their holdings during the rally between $40,000 and $64,000.
The analyst suggests the existence of a substantial liquidity gap between the current Bitcoin level and around $30,000. Emphasizing that price movements seek liquidity, il Capo believes the majority of liquidity is currently on the downside.
Uniswap Price Analysis
Il Capo raises concerns about potential manipulation in the UNI price. He asserts that if the price dips below $10, a distribution phase could commence. As of the time of writing this article, UNI is trading at $12.55.
Solana’s Resistance and Future Forecast
Turning attention to Solana, the analyst notes that the previously mentioned key resistance level of $130 has been reached. Predicting a potential downward wave, the analyst suggests that SOL’s price might decline towards the $48 level from this point onwards.
