A widely followed crypto analyst says that the market is preparing for a reversal after having made a strong movement up.
In a new thread, Pseudonymous Crypto Trader Crypto Capo said to its 132,000 subscribers on the Telegram Instant messaging application that the profits can be the optimal game while altcoins seem ready to crash after a sharp increase.
“The analysis took place as planned. A very strong bull movement. Bitcoin reached $ 98,000 and went even higher (probably upper difference). Ethereum reached $ 2,300. Solana is also at the main resistance of $ 170 and 200.
Altcoins pumped 30% -100% what now? I take more benefits here. 50% (have already taken profits). The inversion must be strong. »»
According to Capo, Ethereum (ETH) – The second largest digital asset by market capitalization – has reached its resistance zone and will soon form a local summit before making a “strong lower movement”.
“The support of $ 1,500 held and the price has now reached the resistance area from $ 2,000 to 2,300. Expecting local higher education here, then a strong lower decision. ”
ETH is negotiated $ 2,290 at the time of writing, an increase of 11.5% in the last 24 hours. The merchant’s graph seems to indicate that Ethereum could descend below $ 1,200 around June.
However, passing to the Eth Rival Solana (ground), Capo says that the intelligent contract platform could continue its momentum because it exceeds the flagship asset of cryptography.
“Sol seems ready to reach the main objective of $ 170-200, surpassing the BTC. The Solana ecosystem should continue to increase.”
Solana is negotiated at $ 170.68 at the time of the editorial staff, an increase of 7% in the last day.
Follow us on X, Facebook and Telegram
Do not miss a beat-Subscribe to obtain alerts by e-mail delivered directly in your reception box
Check price action
Surf the daily Hodl mixture
& nbsp
Warning: Opinions expressed at Daily Hodl are not investment advice. Investors should make their reasonable diligence before making high-risk investments in bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk and that all the losses you may undergo are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, and the Daily Hodl is an investment advisor. Please note that the Daily Hodl is participating in affiliation marketing.
Star image: Shutterstock / NextmarsMedia
