Widely followed crypto analysts have expressed bearish sentiment towards Altcoin, which competes with the two Ethereums (ETHs).
Capo, a pseudonym crypto analyst, told his 263,800 Twitter followers that the price of the two Layer 1 platforms could drop by more than 50% from current levels.
From Fantom (FTM), Capo To tell Flashing a bearish signal when a smart contract-enabled blockchain native token is paired with Bitcoin (BTC).
According to Capo, a three-wave correction based on Elliott wave theory could cause the FTM to fall to at least $ 0.35 against the US dollar. According to theory, the main trend of assets moves in a 5-wave pattern, and corrections occur in a 3-wave pattern.
“FTM
The pair against BTC continued to look bearish as sexual intercourse, breaking major support like butter.
Updated main goals: $ 0.30 – $ 0.35. “
Fantom is trading at $ 0.7943 at the time of writing.
Next is Solana (SOL). For charts without capos, Capo teeth SOL’s bearish scenario by showing that Ethereum’s competitors’ native tokens are down about 49% to 55% from their current prices to between $ 40 and $ 45. According to Capo, Solana was able to make a strong recovery after reaching its last level in August 2021.
Solana is trading at $ 88.69 at the time of writing.
Capo also doubles the previous “arrival of surrender” caveat By saying that the crypto market will fall further as Bitcoin and Altcoin are all blinking Bearish signal.
“The BTC trend is bearish from the one-hour time frame to the one-week time frame.
Altcoins broke key support levels, most of them hit new lows and confirmed that the February-April bounce was certainly a fix.
The leverage ratio is always high.
The chances of surrender are increasing and can soon drop by 50-60%. “
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