Various cryptocurrency analysts are citing their prospects for altcoin projects traded on major exchanges like Binance. In this article, we will share the comments of Altcoin Sherpa and Crypto Capo. Here are the details…
Crypto Capo commented on Bitcoin and 2 altcoins
Crypto Capo, who has half a million Twitter followers, estimates that Bitcoin (BTC) is about to be jammed and then “nuclear bombed.” He explains the reasons for his thinking with a new chart showing that BTC could drop below $16,000 soon. Shorts are looking tough below the upper dark zone, especially at $20,700-20,800. While the majority says they are waiting for the $19,000 level, they think that the liquidity will be between $21,800-23,000.
Looking at the leading smart contract platform Ethereum (ETH), the trader apparently foresees much of the same fate. According to the crypto analyst’s chart, he thinks that the value of ETH will increase slightly this month before falling sharply in October and November. With ETH currently trading at $1,532, Capo predicts Ethereum could drop by around 58 percent to $650 before the correction ends.
Capo then looks at Binance Coin (BNB), the fifth largest crypto by market cap. Again, just like BTC and ETH, the trader is predicting a steep and sudden drop for BNB before any signs of a reversal. Capo’s chart shows that the Binance token has dropped to at least $193, marking a potential 30 percent drop in value.
Altcoin Sherpa awaits these for ADA and LDO
A widely followed crypto trader has revealed his forecast for Bitcoin (BTC) and Cardano (ADA). It also pointed to the bearish trend towards LDO. The crypto analyst, nicknamed Altcoin Sherpa, tells his 182,400 Twitter followers that the native token of Lido DAO (LDO), the decentralized autonomous organization (DAO) behind the Lido Ethereum staking protocol, could drop by about 64% from its current price. Thus, he predicts a drop to $0.75.
Altcoin Sherpa later says that the $19,000 price level is a support zone that could offer a basis for starting a “stronger bounce” for Bitcoin. However, the analyst says that altcoins could drop by about 10% if Bitcoin drops from its current level to $19,000.
Altcoin Sherpa concludes its analysis with the smart contract platform Cardano (ADA). According to the crypto trader, Cardano could drop further before rising. “Is it possible for these charts to form some kind of backlog? There’s a lot of volume trading in this area right now, maybe this mid-term bottom (possibly mid/low $0.30 and then bullish)?” used the phrases.
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