The popular analyst warned investors that Solana (SOL), Cardano (ADA) and Phantom (FTM) may continue to go down.
The analyst, known as Capo, told his 246,200 Twitter followers that Cardano is in the “bearish” zone after the $1.05 support level turned into resistance.
“Main level has been broken and is now being tested as resistance. Located in the bearish zone”
ADA is trading at $0.871330 at the time of writing, according to CoinGecko data.
Capo took on Solana after Cardano. Emphasizing that the asset has faced a “very strong” downward trend, the analyst says that it can drop by more than 70% from current levels.
“Considering that the bullish parabola is completely broken and the downtrend is very strong, it would not be surprising to see it drop to $20-25 level”
Solana trades over $90 at the time of writing he sees.
Trader finally covered Phantom. Capo stated that Phantom may experience a 95% drop after its rally in October 2021.
“Some people don’t realize that altcoins like FTM are up 200,000% from the lows. Do you know what that means? It shows a 2,000x increase in value in less than 2 years.
90%-95% correction is usually after these types of situations. Then the upward trend will continue”
Phantom is trading at $1.69 at the time of writing.
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