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 stage and should decline greater than 68% from its present worth.
“SOL replace: retesting the identical outdated $170-$200 resistance zone. Foremost 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.
Nevertheless, the analyst says ENA might have a sudden correction earlier than persevering with greater.
“One of many few altcoins I didn’t promote, as you may see on the quoted submit. It has now reached the mid vary at $0.50-$0.55. If the bearish state of affairs performs out, we might 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 stage.
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 provides 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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