An analyst who is widely respected in the crypto world says the market will reverse after it has made a big move upwards.
Crypto Capo has started a new thread in which he trades crypto under a pseudonym. tells Telegram to his 132,000 Telegram followers that taking profit may be the best play, as altcoins appear primed for a major crash.
The analysis has played out exactly as predicted. Strong bullish movement. Bitcoin has reached $98,000 (probably a deviation above). Ethereum has now reached $2.300. Solana’s main resistance is between $170 and $200.
Altcoins have surged 30%-100%. Now what? Profits are still to be made. 50% [took profits] already. “Reversal must be strong.”
Capo says that Ethereum is (ETH) – the second-largest digital asset by market cap – has reached The resistance zone will be formed soon and a top local before making an “strong bearish move.”
“The $1,500 support held and price has now reached the resistance zone of $2,000-2,300. Expecting a local top formation here and then a strong bearish move.”
ETH has increased by 11.5% in the past 24 hours to $2,290. According to the trader chart, Ethereum may dip under $1200 in June.
But, if we look at ETH rival SolanaSOLCapo says The smart contract platform is expected to continue growing, as it has outpaced the crypto-asset that was the original flagship.
“SOL looks ready to reach the main target of $170-200, outperforming BTC. The Solana ecosystem should keep going up.”
Solana currently trades for $170.68, which is a 7.5% increase from the previous day.
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