- A crypto trader widely followed by the crypto community, Bitcoin (BTC) and Cardano (ADA) While describing his forecasts for the Ethereum-based altcoin, it expresses a bearish bias against it.
Koinfinans.com As we reported, the crypto analyst known by the alias Altcoin Sherpa, has 182,400 Twitter followers, the decentralized autonomous organization (DAO) behind the Lido Ethereum staking protocol and has experienced impressive rises of up to 400 percent in the past months. Lido DAO (LDO) He claimed that his native token could drop more than 70 percent from its current price.
“LDO: I wouldn’t want to go long before this thing suffers further destruction, maybe up to $0.75? There will be jumps along the way though. ”
LDO is trading in the $2.20 range, up close to 10 percent at the time of writing.
Bitcoin (BTC)
Altcoin Sherpa later says that the $19,000 price level is also a support zone for Bitcoin, which could offer the basis for starting a “stronger bounce” on the flagship digital asset.
However, the analyst bitcoin He says that if it drops from its current level to $19,000, altcoins could drop by about 10 percent.
“BTC: I still believe $19,000 (or something close to it) will make a stronger bounce. If that happens, I predict altcoins will suffer 10 percent more.”
Bitcoin is changing hands at $ 20,260 at the time of writing.
Cardano (ADA)
Altcoin Sherpa, analytics smart contract platform Cardano (ADA) ends with. According to the crypto trader, Cardano could drop even lower before it rises.
“ADA: I haven’t looked at this chart for a while, but… is it possible that these charts are some kind of backlog? There’s a lot of volume trading in this area right now, maybe this mid-term bottom (possibly $0.30 and higher in the medium/low term)?”
At the time of writing, Cardano is trading at $0.448, down 2.4 percent on the day.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.