The analyst, nicknamed Altcoin Sherpa, warns investors that Solana (SOL) is about to drop. The analyst also expects a drop in Bitcoin. Analyst alias DonAlt argues that XRP is a smart game.
Bear scenario for SOL is in effect!
The analyst says SOL will likely see a drop of more than 30% from its current value. According to Sherpa, Solana’s volume profile indicates a major crash risk. Looking at its chart, the next high volume price level on the downside appears to be in the $14 to $15 range, where it was last traded in January 2023. In this context, the analyst makes the following statement:
LEFT: EMAs all good at 1 day. But this is in a scary spot. If this area breaks down, the price is likely to head towards the $14-15 area. As of now I am not a fan of this chart. All in all, I think SOL will do well in the long run and should be a good bet considering the community.
Analyst predicts collapse for Bitcoin too
Altcoin Sherpa then looks at the leading crypto Bitcoin (BTC). The analyst predicts that it will fall at least to the $25,000 level, or even as low as $23,000. He expresses his views on this matter as follows:
BTC Update: I still think there are too many confluences to reach $25,000. I’m still waiting for the next low to form as well. Past lows showed a jolt to begin with. Let’s see if we can reach $23,000.
The analyst expands on this thesis, stating that various indicators point to the $25,000 BTC level, including the 200-week EMA, support and resistance level (SR), and the .382 Fibonacci level. Based on this, he makes the following statement:
That $25,000 level makes a lot of sense to me personally. This is because this is the 200-week EMA, S/R (support/resistance) level, and when we scale it daily, it’s also the 200-days EMA. And also .382 [Fibonacci]… There’s a lot of overlap with $25,000 here.
The analyst predicts that the momentum of breaking the support levels will likely cause Bitcoin to drop below $25,000 to $23,000 before retracing the $25,000 level as support.
XRP with the potential of 1 dollar, ‘a smart game!’
cryptocoin.comAs you follow, the highly anticipated decision on the ongoing legal dispute between Ripple and the United States Securities and Exchange Commission (SEC) is on the horizon. Therefore, renowned crypto analyst DonAlt suggests that XRP is positioned for a significant price increase. In his analysis, DonAlt says that XRP has the potential to witness a significant increase, or even double or triple its current value. This optimistic forecast takes into account the strength in XRP’s market dynamics. It is also based on a positive outcome, or even a moderately positive outcome, of the SEC litigation.
The analyst emphasizes that even with a carefully placed ‘stop loss’ order, the potential advantage of investing in XRP looks quite lucrative and offers a chance to double or triple one’s investment. However, he also acknowledges that downside risk should not be overlooked, as it can vary depending on the extent of a potential downturn, which is estimated to be in the 10% to 15% range. He makes the following statement about it:
I think the XRP narrative may come up again. The SEC lawsuit is getting closer and closer. I think basically if you have a ‘stop loss’ on this thing, the up side is double to triple and the down side depends on how much you slide. However, this can be like 10-15%.
According to the analyst, this is true even if the outcome of the XRP lawsuit is barely positive news. That’s why DonAlt shares this review:
Even if it’s just a frown on the judge’s face when speaking to the SEC, it doesn’t have to be the final result. Basically you will see a pretty big pump. I think this is a smart game. I think there are probably better altcoin games out there. However, this seems pretty simple, it doesn’t seem unreasonable to me to bet on $1 of XRP.
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