Bluntz, one of the popular analysts who attracted attention with his previous Bitcoin price predictions and closely followed the crypto money market, suggested that the danger is approaching for these 3 altcoin projects in his latest analysis! Here are the details…
Famous Bitcoin analyst made bearish predictions for Polygon (MATIC)!
Cryptocurrency analyst Bluntz, who predicted Bitcoin collapses correctly, warned his 222,800 followers on Twitter that cryptocurrencies may face more negativity during the current market correction. The expert first conveyed his analysis of Polygon on Twitter.
The analyst suggested that altcoins show a bearish trend in the big picture and stated that they can fall much more than instantaneous price levels. Referring to the popular altcoin project Polygon (MATIC) in his analysis, the Bitcoin analyst states that the Ethereum Layer-2 scaling solution has fallen under an ascending channel and has a downward trend. The words of the expert are as follows:
Many altcoins are really losing their Great Time Frame (HFT) structure right now. MATIC, for example, is descending from a 12-month bear flag and closed below the one-year channel. Personally, I’m starting to think things are getting a little worse than many expected.
According to the analyst, MATIC could fall as much as 54 percent from current levels, and for MATIC, “I think a drop to $0.40 – $0.50 is more reasonable.” in his words. Instantly, the MATIC price level is $ 0.869.
Expert reveals critical levels for Ethereum (ETH) and Binance Coin (BNB)
On the other hand, Bitcoin analyst Bluntz, who also made critical comments about the leading altcoin Ethereum (ETH), suggests that the leading altcoin project will fall shortly after closing under the ascending channel that lasted for weeks. Looking at the expert’s chart, it seems that Bluntz is targeting below the $1,700 level for ETH. Instantly, ETH is trading at $1,842.
The bear flag retest on the bottom of ETH seems complete, I think the bottom will drop very soon.
On the other hand, the analyst also made critical comments for Binance Coin (BNB). According to Bluntz, BNB seems to be under serious selling pressure when compared to BTC. The expert says that BNB has fallen by more than 35 percent since the end of last year and uses the following words:
Of all the major cryptos, BNB should have one of the wildest downtrends in the BTC pair and it could literally just go down. It’s not even horizontal like ETH/BTC.
On the other hand, leading analyst Bluntz is a name that has previously attracted attention with his predictions for Bitcoin and cryptocurrencies. As you may recall, he correctly predicted an altcoin collapse in February 2021. In March that same year, he had succeeded in his predictions, pointing to around $1,600 for ETH. However, he predicted a pullback in his predictions for BTC and ETH in September 2021 and is followed by many investors thanks to these successful predictions.
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