this year Bitcoin (BTC) The analyst, who correctly predicted its collapse, predicts further corrections for Cardano (ADA) and Cronos (CRO). He also states that an important development that will take place this week may affect the market.
The analyst, known by the alias Capo, told 438,400 Twitter followers that Cardano’s support at around $0.44 is about to collapse. told.
“He touched the support six times. [Destek] is getting weaker. Next support: $0.29-0.31.”
At the time of writing, Cardano is trading below Capo’s support level and is trading at $0.43, down about 5.57% over the past 24 hours.
Another altcoin on Trader’s list is Cronos, the cryptocurrency that powers the Crypto.com payment, trading and financial services platform. According to Capo, CRO has broken horizontal and diagonal support levels and is ready to start the next decline. it seems.
“CRO update: $0.055-0.065.”
Koinfinans.com As we reported, at the current $0.11 price, a move to Capo’s target indicates about 50% downside potential for Cronos.
The crypto strategist also issued a general warning to crypto market participants, arguing that new inflation data could push digital assets, especially Bitcoin, to 2022 lows.
“All charts show weakness. New bottoms are just a matter of time. CPI [tüketici fiyat endeksi] this week.”
The new CPI data is scheduled to be published on 13 July. Traders are keeping a close eye on the CPI, as high inflation figures could signal that the Federal Reserve could launch a new round of rate hikes for at-risk assets like cryptocurrencies, which often don’t bode well.
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.