Cryptocurrency analyst il Capo of Crypto explained his views on the Bitcoin and Ethereum market as the BTC price continues its downward trend.
Sharing his thoughts on the weekend, the analyst talked about Bitcoin, which fell below $ 41,000 for a short time and was at $ 41,600 at the time of writing. According to the analyst, the $40,000 to $41,000 region forms a major support area for BTC, and there is strong demand below this area.
According to the analyst, altcoins seem suitable for a final rally before the decline.
Speaking about Ethereum, the analyst interestingly shared bullish views for ETH. According to the analyst, ETH reached the resistance zone between $2,500 and $2,600 and experienced a rejection from there. il Capo of Crypto believes that the bullish trend is unharmed for ETH, which is currently bouncing off the support point along with the rest of the market.
The analyst claimed that ETH price could reach $2,800. However, in case of a decline below the $2,430 level, a bearish confirmation could be considered, according to the analyst.
*This is not investment advice.
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