Crypto Analyst Warns of Potential Monday Pullbacks for Bitcoin, Ethereum, Solana

Crypto analyst Ali Martinez has identified a recurring pattern in Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) where Sunday price movements are often reversed on Monday. This trend, observed from August 29 to September 28, suggests a potential pullback for these cryptocurrencies in the near term.

Martinez points to technical indicators supporting this pattern. Bitcoin’s four-hour chart has flashed a sell signal through the TD Sequential indicator, with the previous four similar signals leading to price corrections. Ethereum and Solana are showing the same sell signal, with past signals followed by declines ranging from 2.44% to 5.76%.

Despite the near-term correction risk, Martinez maintains a bullish long-term outlook. Bitcoin’s two-year rising channel suggests a potential target near $125,000, with a breakout possibly aiming for $190,000. Ethereum faces resistance around $5,000, with a breakout potentially targeting $8,800. Solana’s monthly chart indicates a cup-and-handle pattern, with a break above $295 possibly projecting a target near $2,750.

Additionally, Bitcoin has shown resilience at the start of October, outperforming its historical average decline during the first three days of the month. From October 1 to October 3, Bitcoin slipped just 0.14%, compared to the historical average decline of 0.66%.