Cryptocurrency Investor Predicts Significant Collapse for Ethereum Rival Following a Temporary Recovery; Revises Bitcoin Forecast
Get the scoop on the latest crypto happenings and analysis with The Daily Hodl! Today, a well-known pseudonymous crypto analyst is making some bold predictions for Solana (SOL). The analyst, known as Capo, is predicting that Solana could take another nose dive and drop as low as $60 to $80.
Capo has spotted some resistance that Solana is currently testing which was once a supportive zone. He believes that Solana's previous test of the resistance level around $170-$200 was a significant red flag, and has, so far, been rejected multiple times.
Currently, Solana's price has dropped about 20% from that resistance, and Capo sees potential for further declines as the market has not yet reached its capitulation phase. This indicates that there may be more downward pressure to come before we see a potential recovery.
It's worth mentioning that Solana is already sitting down about 51% from its all-time high of January. So, if Capo's prediction comes true, Solana could see another whopping 58% drop from where it currently stands.
Capo isn't the only one looking at Bitcoin (BTC) and Solana right now. Many crypto analysts and traders are keeping a close eye on these major players in the crypto world.
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Investors might want to consider Capo's prediction that Solana, a major altcoin in the cryptocurrency market, could potentially drop to $60-$80, marking another significant decline from its current standing and an additional 58% drop from its all-time high in January. Meanwhile, multiple crypto analysts and traders are observing Bitcoin and Solana, two influential players in the crypto world, as they navigate the market. Stay updated on the latest crypto happenings and analysis by following The Daily Hodl via X, Facebook, and Telegram, and don't miss any opportunities by subscribing to email alerts.
