A crypto analyst with a large following and known for his accurate altcoin price predictions, the leading altcoin Ethereum (ETH) rival expresses a bear trend for two altcoins and states that it will crash literally.
“The first altcoin project to hit: Fantom (FTM)”
Cryptocurrency analyst, nicknamed CryptoCapo, with altcoin predictions, told 263,800 Twitter followers that the prices of the two-tier-1 platform are higher than the current levels. He says it could drop over 50%. You can check the analyst’s predictions in this article of the #1 crypto news site Kriptokoin.com .
Analyst says that starting with Phantom (FTM), the native token of the smart contract blockchain signals bearish when paired with Bitcoin (BTC). CryptoCapo says that against the US dollar, FTM could drop to at least $0.35 in a three-wave correction based on the Elliott Wave Theory. The theory states that an asset’s major trend moves in a five-wave pattern and a correction occurs in a three-wave pattern. CryptoCapo says:
FTM’s pair against BTC continues to look bearish and has broken the major support like butter. Updated main target: $0.30 – $0.35.
Source: CryptoCapo / Twitter Phantom at the time of writing is trading at $0.7458, down 5.30% on a daily basis.
Next altcoin, Ethereum competitor Solana (SOL)
Analyst claims that Ethereum rival’s native token will fall to between $40 and $45, down about 49% to 55% from the current price. showing the bearish scenario for Solana (SOL) on the chart. According to CryptoCapo, Solana may show a strong recovery after reaching the last level reached in August 2021.
Source: CryptoCapo / Twitter Solana was trading at $85.33 at the time of writing, down 2.85% on a daily basis.
The analyst has similar predictions for the crypto market
CryptoCapo also stated that the crypto markets will go further down as Bitcoin and altcoin projects all give bearish signals. capitulation is coming” doubles the warning. The analyst explains:
BTC trend is bearish from one hour time frame to one week time frame. Altcoins broke major support levels, with many breaking new lows, confirming that the February-April bounce was indeed a correction. Leverage is at an all-time high. Capitulation is becoming more and more likely, and we could see a 50-60% drop soon.
