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 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.
Nevertheless, the analyst says ENA could have a sudden correction earlier than persevering with increased.
“One of many few altcoins I didn’t promote, as you’ll be able to 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. Identical plan as earlier than.”
Taking a look at his chart, the analyst means that Ethena could 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 under $115,000.”
Bitcoin is buying and selling for $119,161 at time of writing, up marginally within the final 24 hours.
Observe us on X, Facebook and Telegram
Do not Miss a Beat – Subscribe to get e mail alerts delivered on to your inbox
Verify Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Each day Hodl usually are not funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your individual threat, and any losses chances are you’ll incur are your duty. The Each day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Each day Hodl an funding advisor. Please be aware that The Each day Hodl participates in affiliate internet marketing.
Generated Picture: Midjourney