Popular crypto strategist Altcoin Sherpa, Phantom (FTM) and bitcoinHe shared a list of The analyst warned that the coins on the list could experience a major collapse.
on his Twitter account sharing by Altcoin Sherpa, PhantomHe stated that he was facing the possibility of collapse. According to the analyst, FTM is in pretty bad shape and has yet to show any sign of bottom price.
A decentralized derivatives exchange Injective Protocol (INJ) is also on the analyst’s list. According to altcoin Sherpa, INJ is also in a downtrend. The current trend of selling pressure will eventually result in attracting investments.
“I mostly took a position around $2.02 and now I am at a loss. I didn’t sell at the peak. However, I wouldn’t be surprised if the altcoin price rises. At the moment, the outlook seems to be built on selling pressure. The entry in the $1.80 area was actually profitable.”
The other altcoin on the analyst’s radar, the decentralized application (DApp) platform Near Protocol (NEAR). The analyst noted that the current price resistance is weak and could drop further.
“NEAR has been overlooked for a while but I think the current space is very dubious. Altcoin price should stay here or I think it will go to the mid/low levels of $2.”
Bitcoin May Crash Alongside The Altcoin World
Concluding his analysis with Bitcoin, Altcoin Sherpa shared that he predicts the price will fall further. The analyst shared three levels that he believes will be a retest phase based on previous models.
“Here are some high timeframe levels in both directions. I think you should focus on the $16,000, $14,000, and $12,000 areas. I don’t know if it will reach those lows, but if it does, I think you have to be prepared.”
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.