Bitcoin (BTC), Ethereum (ETH) and Solana (SOL) Could Be on the Edge of Dramatic Capitulations, Warns Trader

A closely followed crypto strategist is warning that Bitcoin (BTC) and two other altcoins could collapse in price amid ongoing bearish market structures.

Pseudonymous analyst Kaleo tells his 596,500 followers on the social media platform X that he’s expecting Bitcoin to potentially decline by more than 20% from its current value.

“Still wouldn’t be surprised to see something like this play out.”

Source: Kaleo/X

Looking at his chart, the trader believes that Bitcoin could decline to the $20,800 level before taking off a on a surprise rally next month to around $36,000.

Bitcoin is trading for $26,160 at time of writing, down 0.7% in the last 24 hours.

Next, the trader says smart contract platform Ethereum (ETH) is on the verge of a dip after repeatedly testing a vulnerable support level.

“ETH for example is hanging on the ledge of a cliff. I think a break lower before running it back turbo and seeing $2,000+ again is still likely.”

Source: Kaleo/X

Ethereum is trading for $1,585 at time of writing, down 0.5% in the last 24 hours.

Lastly, the trader says ETH rival Solana (SOL) could collapse by more than 27% from its current value if it fails to hold a key support level at $18.

“From a USD perspective, would expect the real capitulation to start beneath $18.”

Source: Kaleo/X

Looking at his chart, Solana is in danger of collapsing after it fails to successfully flip a resistance trendline into support.

Solana is trading for $19.24 at time of writing, down 2% in the past day.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Sol Invictus/IvaFoto

Leave a Reply

Your email address will not be published. Required fields are marked *