The cryptocurrency market continues to follow a lackluster course. In this uncertain environment, investors and traders are very confused. A crypto strategist closely followed in the market is issuing a bearish warning for Bitcoin and two altcoins. However, the analyst expects a bounce for BTC next month.
Kaleo expects a sharp decline followed by a bounce in Bitcoin
cryptokoin.comAs you can see from , the market has lost its momentum. He’s been swaying back and forth for a while now, lacking any sense of direction. Although the leading crypto Bitcoin regains the level of 26 thousand dollars below which it has fallen, it cannot go further. Most altcoins have a similar appearance, with the exception of altcoin projects. Market players are wondering how this silent wait will end.
This is where the famous analyst nicknamed Kaleo comes into play. The analyst suggests that the prices of Bitcoin and the two altcoins will fall sharply. Addressing his followers on social media platform X, the analyst says he expects Bitcoin to potentially drop more than 20% from its current value. In this context, Kaleo said, “It would still not be a surprise if something like this happened.” says.
Looking at its chart, the analyst predicts that Bitcoin will fall as low as $20,800 before surging to around $36,000 next month with a surprise rally. In other words, the analyst predicts a strong rebound next month after this sharp decline. Meanwhile, Bitcoin is trading at $26,219, down 0.3% in the last 24 hours. The leading cryptocurrency lost 3.5% in value on a weekly basis.
Leading altcoin hangs on the edge of a cliff
Next, the analyst looks at smart contract platform Ethereum (ETH). The analyst says the altcoin price is on the verge of a decline after repeatedly testing a vulnerable support level. Kaleo expresses his views on this subject as follows:
For example, ETH is hanging on the edge of a cliff. I think a break lower is still on the cards before we get back into turbo and hit $2,000+ again.
Meanwhile, Ethereum has been trending sideways over the last 24 hours at press time. The leading altcoin is trading at $1,585 with a loss of 3.5% on a weekly basis.
Analyst also predicts a collapse for SOL
Finally, the analyst moves on to rival Solana (SOL) after the leading altcoin ETH. Kaleo says SOL could fall more than 27% from its current value if it fails to maintain the key $18 support level. For this prediction, the analyst makes the following statement:
From a USD perspective, we would expect real capitulation to begin below $18.
Looking at its chart, the analyst notes that Solana is in danger of collapsing after failing to successfully convert a resistance trend line into support. Meanwhile, Solana was trading at $19.20 at the time of writing, down 1.78% on a daily basis. The altcoin experienced a value cap of 3.7% on a weekly basis.
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