Chinese trader Eugene Ng Ah Sio has identified key support levels for Solana (SOL ($121.00)) and Bitcoin (BTC ($80,368.18)) and shared his latest market views, announcing his decision to remove Ethereum (ETH ($1,845.12)) from his portfolio.
In a Telegram group discussion, Eugene noted that SOL’s key support level is around $80, which he sees as a strong buy zone for a mean reversion trade. However, if SOL fails to maintain this level, the next major support could drop significantly to $25.
For BTC, Eugene highlighted the $74,000 to $76,000 range as a key support area. He also suggested that unless MicroStrategy sells on a large scale, $52,000 remains a solid floor. However, in the event of a major sell-off, BTC could potentially drop to $25,000.
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Additionally, the trader announced that he has removed ETH from his portfolio, signaling a cautious stance regarding Ethereum’s short-term outlook.
At the time of writing, Bitcoin is trading at $80,600.
*This is not investment advice.
Continue Reading: Chinese Trader Announces Critical Support Levels to Prevent Major Decline in Bitcoin (BTC) and Solana (SOL) – Shares Altcoins He Completely Removed from His Portfolio
