Chinese Trader Announces Critical Support Levels to Prevent Major Decline in Bitcoin (BTC) and Solana (SOL) – Shares Altcoins He Completely Removed from His...

Chinese trader Eugene Ng Ah Sio has identified key support levels for Solana (SOL) and Bitcoin (BTC) and shared his latest market views, announcing his decision to remove Ethereum (ETH) from his portfolio.

In a Telegram group discussion, Eugene noted that SOLs 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.

Additionally, the trader announced that he has removed ETH from his portfolio, signaling a cautious stance regarding Ethereums short-term outlook.

At the time of writing, Bitcoin is trading at $80,600.

*This is not investment advice.