Crypto market analyst Pseudonym has shared recent evaluations concerning the Solana
$
130-based token BONK, AI-driven ALCH, and the leading cryptocurrency Bitcoin
$
84,678. The analyst highlighted short-term recovery indicators in these three assets, suggesting cautious trading at certain levels. Notably, comments on the volatility of low-volume tokens provide vital insights into the market’s overall outlook. Pseudonym emphasized the strength of technical formations and their impact on trading volume, recommending that traders adjust their positions based on short-term price movements.
Expectations for Strong Short-Term Performance of BONK
Pseudonym indicated that BONK, classified as a “meme token” developed on the Solana blockchain, might exhibit a strong performance in the short term. The analyst pointed to a resistance level at $0.000012, stating that surpassing this threshold could trigger a new upward momentum.
According to the analyst, BONK’s price could experience a pullback near the 200 EMA on the four-hour chart. However, Pseudonym argued that this correction could present a buying opportunity, stressing that current trading levels carry reasonable risks. At the time of writing, BONK’s trading price was $0.00001376.
BONK is gaining attention, particularly due to increased trading volume and social media interest within the Solana ecosystem. As volatility reemerges in the cryptocurrency market, interest in meme tokens is also reviving.
Cautious Buying Advice for AI-Driven ALCH
The analyst also drew attention to ALCH, a low-volume altcoin powered by artificial intelligence. The project allows users to generate software using natural language commands without requiring programming knowledge, captivating technology enthusiasts.
Pseudonym noted that ALCH’s price chart follows a strong trend line, indicating that despite its highly volatile nature, it is trading in zones deemed “appropriate for buying.” The analyst reminded that ALCH has exhibited daily movements of up to 20%, having actively traded this token in the past.
Currently ranking 431st by market capitalization, ALCH is trading at approximately $0.109. Purchases at these levels are considered to present opportunities, especially for short-term traders.
Strengthening Expectations for Bitcoin Consolidation
Offering a more cautious outlook for Bitcoin, the analyst predicted that the leading cryptocurrency will trade within a broad band of $70,000 to $90,000 in the coming weeks. Pseudonym characterized this phase as a “consolidation period,” allowing the market to establish a more robust foundation.
The analyst expressed that current levels are forming a type of “relative bottom,” yet there isn’t a clear direction for new purchases. During these horizontal movement phases, it is vital for traders to focus on volume and momentum analyses.
Bitcoin’s movements during this period are closely monitored by traders, as they will significantly influence the overall market effect on altcoins.
