• Benjamin Cowen recognized a weak point between MATIC for Bitcoin and SOL for Bitcoin.
• MATICBTC has traded inside a sure vary all through the Bitcoin bear market.
• At SOLBTC, persons are sucked into every pump, after which the value falls to new lows.

Benjamin Cowen, founding father of ITC Crypto, has recognized a weak point between MATIC towards Bitcoin and SOL towards Bitcoin. A distinguished analyst independently in contrast the latest historical past of each altcoins to Bitcoin, displaying potential weaknesses over the previous two years.

Cowen used TradingView’s MATICBTC weekly chart to point out that MATICBTC has been buying and selling inside a sure vary all through Bitcoin’s bear market. He famous that the present market situations have seen the crypto pair declining towards the decrease finish of its vary, with MATIC displaying additional weak point.

Cowen noticed that MATIC is buying and selling beneath 1,700 sats and a drop beneath the present help would go away the pair with room for a big drop. That is as a result of notable areas of the value chart will not be supported.

Cowen additionally in contrast the connection between SOL and Bitcoin on the TradingView weekly chart. He noticed that the cryptocurrency pair has maintained a constant downward pattern over the previous two years. Specifically, the character of worth actions retained important patterns of ups and downs.

Analysts noticed that on the SOLBTC worth chart, persons are sucked into every pump, however the worth solely goes down and makes new lows.

In response to Cowen’s evaluation, the pair has damaged beneath the newest help and should drop additional. The priority for SOL holders is {that a} break beneath the latest help might result in even greater losses. That is as a result of there isn’t any noticeable help degree close by.

In response to Cowen’s evaluation, the outlook for each MATICBTC and SOLBTC doesn’t look promising within the close to future. The bullish sentiment surrounding Bitcoin and its upward momentum helps this opinion. Many altcoin holders, together with MATIC and SOL holders, need to trade them for Bitcoin.

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