Analyst Warns Investors of Two Altcoins Listed on Binance!

A popular cryptocurrency analyst shared his near-term bearish forecast for Binance Coin (BNB) and an Ethereum (ETH) competitor.

Starting his forecast with Binance Coin, the analyst said that the fifth-ranked crypto asset will lose an average of 12%. in your opinion.

Applying the Elliott Wave theory model, the analyst thinks that Binance Coin has completed a five-wave bullish pattern. The analyst predicts a retracement from the year-to-year high of $323 to around $265, which coincides with the 61.8% Fibonacci level.

“I think BNB risks falling to at least $265. It’s definitely on my radar for shorts in any bounce after the daily close.”

Binance coin price prediction

Ethereum competitor next in the list Avalanche (AVAX) is included. According to Smart Contracter, Avalanche risks a correction of up to 30% in February after completing its five-wave bullish pattern.

Avalanche risks falling to just below $14, an area that coincides with the 61.8% Fibonacci level from the year high of $18.97.

“Many large-cap cryptoassets are currently making net 5-wave gains on a daily basis. Not all, of course, but most of them were. AVAX is also among the assets that can decline by 25-30% on average. You don’t like to share bad news, but it’s the truth.”

Avalanche price prediction

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