A pseudonymous crypto analyst is predicting that a large-cap Ethereum (ETH) competitor could depreciate by double-digit percentage points from the current level.
The analyst, pseudonymously known as Capo, tells his 128,716 Telegram subscribers that Solana (SOL) is currently testing a resistance level that was previously a support zone.
According to Capo, Solana could fall by up to 58% from the current level after failing to break above a level last reached late last month.
“After the current dead-cat bounce, it’s now testing another important resistance, which was support before (support/resistance flip). Main target remains $60 to $80.”
Solana is trading at $143 at time of writing, down by around 51% from the all-time high reached in January.
Turning to Bitcoin (BTC), Capo says the crypto king is facing strong resistance at the level just below $109,000. Based on the pseudonymous analyst’s chart of the one-day time frame, it appears Capo is suggesting that Bitcoin could first fall to a support level around the price of $93,000.
Capo also appears to suggest that Bitcoin could capitulate even further and revisit the zone between $60,000 and $70,000, levels last witnessed in October of 2024.
“If you think we’ve seen it all… think again.”
Bitcoin is trading at $107,197 at time of writing, down by around 4% from the current level.
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