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Wednesday, April 17, 2024
HomeFinance NewsBitcoin, Ethereum, and Solana May Face Drastic Capitulations, Says Trader.

Bitcoin, Ethereum, and Solana May Face Drastic Capitulations, Says Trader.

Crypto strategist Kaleo is cautioning that Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) could experience significant price drops in the near future. Kaleo, who has a sizable following of over 596,500 followers on Twitter, predicts that Bitcoin could potentially decline by more than 20% from its current value. According to his chart, Bitcoin may drop to the $20,800 level before experiencing a surprise rally next month to around $36,000.

Moving on to Ethereum, Kaleo believes that the smart contract platform is dangling on a precarious edge, with a high probability of a dip before seeing a resurgence to $2,000+. He also indicates that Solana could potentially collapse by over 27% from its current value if it fails to hold a crucial support level at $18. Kaleo’s chart suggests that Solana is in danger of collapsing after failing to convert a resistance trendline into support.

At the time of writing, Bitcoin is trading at $26,160, down 0.7% in the last 24 hours, while Ethereum is trading at $1,585, down 0.5% in the same period. Solana is valued at $19.24, with a 2% decrease in the past day. Investors should consider these predictions as they evaluate their investment decisions in the crypto market.

Disclaimer: The opinions expressed by The Daily Hodl and Kaleo are not investment advice, and individuals should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Transfers and trades are made at one’s own risk, with any losses incurred being the individual’s responsibility. The Daily Hodl does not endorse or recommend the buying or selling of any cryptocurrencies or digital assets, nor does it function as an investment advisor.

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