A crypto analyst is urging to be wary of an altcoin that has skyrocketed to an all-time high this year. Another crypto analyst says that the two altcoins are preparing for pullbacks.
“This exploding altcoin will most likely go down!”
Crypto analyst nicknamed Kaleo says that Aptos (APT) will likely go down, despite the price boom over the past two weeks. According to the analyst, Aptos is most likely to sell heavily on the Bitcoin (BTC) pair as the leading crypto has formed a ‘god candle’ or an upside move that will result in the largest candle ever formed on its chart. Kaleo makes the following statement:
As crazy as the move is, I think it’s highly likely that it will be massively sold to a BTC god candle outside of its current range. At least in terms of BTC parity, it wouldn’t be shocking to see a slight sell-off in dollar terms in a big BTC move.
cryptocoin.comAs you follow, Aptos opened the year at $3.45 and hit an all-time high of $19.47 with an astonishing 464% increase. Officially launched in October 2022 and currently ranked 28th by market cap, the altcoin has since stabilized and is trading at $17.98 at press time.
“Bitcoin may hit $45,000 this year!”
Meanwhile, Kaleo predicted that Bitcoin will likely outperform altcoins. Check out this article for the analyst’s accurate predictions. While he doesn’t see the current Bitcoin rally hit an all-time high, Kaleo says that BTC could hit as high as $45,000 before falling below $30,000 in 2023. In this context, the analyst makes the following assessment:
I’ve never been more optimistic about BTC than I am now in my life for a window into what’s going to happen in the next few weeks. I don’t think this rally will lead to ATH levels. It is more likely to scatter and disperse in the $40,000-$45,000 range for a few months before returning to the mid-to-high $20,000 later this year. However, I think it’s about to accelerate really fast. I truly believe that a huge god candle will come in the near future.
“This altcoin is on my radar to short”
A popular crypto analyst alias Smart Contracter is describing the near-term bearish trend for Binance Coin (BNB) and an Ethereum (ETH) competitor. The analyst suggests that BNB could drop by about 12% from current levels. From the charts, applying the Elliott Wave Theory in his technical analysis, the analyst suggests that BNB has completed a five-wave bullish pattern and is poised to correct from the year-to-date high of $323 to around $265, a level that coincides with the 61.8% Fibonacci level. . Accordingly, the analyst makes the following statement:
I think BNB, which went down to a minimum of $265, is definitely on my radar to short on any bounce after the daily close.
Smart Contracter’s AVAX target is under $14
The analyst then looks at Ethereum rival Avalanche (AVAX). According to the analyst, AVAX could correct up to 30% in February after completing a five-wave bullish pattern. You can check Smart Contracter’s accurate forecasts in this article. From its charts, it looks like Avalanche could drop just below $14. This area coincides with the 61.8% Fibonacci level from the year-to-date high of $18.97. The analyst expresses his predictions as follows:
Many major cryptocurrencies have now seen clean, clear 5-wave highs on a daily basis. Not all, but that’s enough. AVAX, I think we could potentially see 25-30% retracements begin over the next month. I hate to be the bearer of bad news, but that’s what happened.
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