A popular crypto analyst and trader, Smart Money-Smart money He issued a warning to Cardano and Solana traders, saying that investors (known as market wolves, who have not only capital but also knowledge and experience) expect sharp corrections in ADA and SOL.
Crypto strategist using the pentoshi alias has 453,500 Twitter followers, smart contract platform Solana’s (LEFT) He said that he expects the altcoin to experience a deep pullback after its price surge from $1.51 in January 2021 to its current price of $168.32.
“You also have to assume that smart money investors look at graphs like this that are increasing 250x a year and are thinking, ‘Yeah, now is the time to distribute my capital.’
Contrary to being patient and trying to get rid of the stupid money in the market, it seems to me that the odds are not in your favor. Despite this situation, I believe that Q1 will provide good starting points for many.”
Cardano (ADA) Pentoshi believes that the smart contract platform can experience a rally after the sharp decline it experienced after reaching the peak levels of over $ 3.00.
However, the analyst also warns that this possible rally could result in selling pressure that could potentially drag ADA below $1.00.
“2022 medium-long term ADA forecast. If we lose this level, it’s game over. When we visit that level (1.00), there will be tweets like this on Twitter; ‘If he loses this level, it’s game over.’ But actually the game is already over.”
As for Bitcoin (BTC), Pentoshi says he’s ready to change that bias even though BTC has been bearish, even though the biggest cryptocurrency has managed to pull back a key resistance level.
“My overriding prediction would be with BTC retracing the $58,000 – $60,000 level.
A clear level across all timeframes.”
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.