An analyst who precisely referred to as the 2022 crypto collapse believes that one Ethereum (ETH) rival is on the verge of a deep correction.
Pseudonymous analyst Capo tells his 129,129 subscribers on his Telegram channel that Solana (SOL) is going through resistance on the $200 degree and should decline greater than 68% from its present worth.
“SOL replace: retesting the identical previous $170-$200 resistance zone. Major goal stays $60-$80.”
Solana is buying and selling for $188 at time of writing, down 1.7% within the final 24 hours.
Subsequent up, the analyst says that he’s remaining bullish on Ethena (ENA), an artificial greenback protocol constructed on Ethereum.
Nonetheless, the analyst says ENA might have a sudden correction earlier than persevering with larger.
“One of many few altcoins I didn’t promote, as you’ll be able to see on the quoted put up. It has now reached the mid vary at $0.50-$0.55. If the bearish situation performs out, we may nonetheless see a final leg down in direction of the vary low at $0.20 (all-time low). If that occurs, I’ll be shopping for extra. Similar plan as earlier than.”
Taking a look at his chart, the analyst means that Ethena might hit $1.52 after retesting the $0.19 degree.
Ethena is buying and selling for $0.49 at time of writing, up 6.2% within the final 24 hours.
Lastly, the analyst says he nonetheless believes Bitcoin (BTC) will quickly enter a major downtrend.
“BTC offers the primary bearish affirmation beneath $115,000.”
Bitcoin is buying and selling for $119,161 at time of writing, up marginally within the final 24 hours.
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