A well-known crypto analyst and trader is highlighting a critical moment for a competitor of Ethereum (ETH).

The pseudonymous crypto strategist, Credible Crypto, is informing his 396,500 followers on the social media platform X that Solana (SOL) is at a make-or-break point. If SOL fails to maintain support at $140, it could see a significant drop.

Credible Crypto explains, “SOL: the only thing standing between us and a potential nosedive to $115. This level is crucial for a possible rebound. I have closed all my short positions and am waiting to gauge the market’s reaction. The positive aspect is that both SOL and DOGE have reached critical levels at the same time as BTC hitting our target range. The alignment is promising, and if BTC turns around, so will DOGE and SOL (at least temporarily). This is the most logical scenario for now.”

Analyzing his chart, the analyst suggests that SOL could continue in an upward trend and reach $230 before turning bearish. At the time of writing, Solana is trading at $155, showing a 5% increase in the last 24 hours.

Moving on, the analyst warns that Bitcoin’s (BTC) bullish trend may be in jeopardy if it fails to hold support at $60,000. He notes, “We did not anticipate hitting our target range lows earlier, and now my initial downside target for BTC has been reached. Bids are in place at $62,000-$65,000 while asks are appearing above price at $67,000-$68,000. Currently, BTC and most of the altcoins I’ve been monitoring have all reached the downside targets I had set… BTC still has some leeway, as things only start looking worrisome below $60,000.”

The analyst suggests that Bitcoin could bounce back after touching lower levels and potentially reach around $77,000. Bitcoin is currently trading at $68,457, showing an almost 2% increase in the last 24 hours.

Lastly, the analyst points out that Dogecoin (DOGE) needs to maintain support at $0.13 to see a rebound towards $0.19. He advises, “If you’re looking to exit your DOGE positions after buying at the peak because of crypto Twitter’s $1 predictions, you should hope we hold this region. I identified this zone as a potential bounce area for relief three days ago, and now we’re here.” DOGE is trading at $0.14 at the time of writing, marking a 5.4% increase in the last 24 hours.

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