Following the recent rise in the crypto markets, one of the well -known analysts pointed out that the market could go to a short -term correction. Capo, the crypto currency analyst, suggested that in the latest assessments, a harsh withdrawal may be experienced, especially in Altcoins. Capo warned investors about profit realization with his announcements on Telegram.
Ethereum Resistance level
According to the analyst’s evaluation, Ethereum $2,348.49 Recently, it has reached a significant level of resistance. We all saw that ETH has climbed the resistance zone in the $ 2,000-2,300 band after support of $ 1,500. At this point, the analyst states that short -term peak formation has become visible and expects a strong retreat.
“$ 1,500 support was preserved and the price is now $ 2,000-2,300. Here I am waiting for the local peak formation and then a strong downward movement.”
Ethereum was traded at the level of $ 2,339 at the time of the announcement and showed an increase of about 11.5 %in the last 24 hours. The graphics shared by Crypto Capo indicate expectations that Ethereum may fall below $ 1,200 in the coming weeks.
Solana rise estimate
In addition to Ethereum, positive evaluations were made about the smart contract platform Solana. Analyst pointed out that Solana has performed better than BTC and that the rise potential continues.
“Solana seems ready to reach the main target band of $ 170-200 and performs better than BTC. I expect Solana ecosystem to continue to rise.”
At the time of the article, Solana’s price was $ 170.68 and made significant profits in the last day.
Following such increases in the crypto currency market, correction movements are frequently encountered. In particular, traders, which act with technical analysis, may be united in the view that the downward movement can be strengthened in the market after reaching certain resistance levels. Especially considering the fake rises that have been going on for months, they may be justified not only technically but also psychologically.
The fact that Crypto Capo has increased between 30 %and 100 %in the short term in subcoins is an idea that it may be appropriate to realize profit in investors.
However, the experts who express that the developments in the market may vary largely depending on investor behaviors and global economic dynamics warning that no definite estimates should be made and cautiously acted.
Especially in the future, it can clearly determine the market direction after the explanations from both sides of the negotiations with China.
The acceleration caught by popular assets such as Ethereum and Solana in the crypto currency market has attracted attention. Analysts recommend that investors be cautious against the possibility of downward movements in the market after such rise. In Ethereum, a possible withdrawal is expected, while the expectation of strong performance for Solana is maintained. Since it is difficult to predict market movements, it may be useful for investors to regularly follow market analysis and update their strategies accordingly.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
