Crypto Dealer Warns 50% Drop Will Slam Two Ethereum Rivals, Predicts Huge Capitulation Incoming

by Cryptospacey

A widely-followed cryptocurrency analyst is expressing bearish sentiment on two Ethereum (ETH)-competing altcoins.

Pseudonymous crypto analyst Capo tells his 263,800 Twitter followers that the costs of two layer-1 platforms may fall by over 50% from the present ranges.

Beginning with Fantom (FTM), Capo says that the native token of the sensible contract-enabled blockchain is flashing bearish indicators when paired towards Bitcoin (BTC).

Capo says that towards the US greenback, FTM may drop to a minimum of $0.35 in a three-wave corrective transfer primarily based on the Elliott Wave Principle. The speculation states that the principle development of an asset strikes in a five-wave sample whereas a correction happens in a three-wave sample.

“FTM

Pair towards BTC retains trying bearish as fuck, and it broke the foremost help like butter.

Foremost goal up to date: $0.30 – $0.35.”

Supply: CryptoCapo_/Twitter

Fantom is buying and selling at $0.7943 at time of writing.

Subsequent up is Solana (SOL). On a chart bearing no caption, Capo illustrates a bearish state of affairs for SOL by depicting the native token of the Ethereum competitor falling by round 49% to 55% from the present value to between $40 and $45. Solana may then stage a powerful restoration after hitting the extent final reached in August of 2021, in response to Capo.

Supply: CryptoCapo_/Twitter

Solana is buying and selling at $88.69 at time of writing.

Capo additionally doubles down on an earlier “capitulation incoming” warning by saying that the crypto markets will decline additional as Bitcoin and altcoins are all flashing bearish indicators.

“BTC development is bearish from the one-hour timeframe to one-week timeframe.

Altcoins broke main help ranges and most of them made new lows, confirming that the February-April bounce was certainly a correction.

Leverage ratio is at all-time excessive.

Capitulation is getting increasingly seemingly, and we may see 50-60% drops quickly.”

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Featured Picture: Shutterstock/LongQuattro/diversepixel



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