Recovery has begun in Bitcoin and altcoins after the sharp correction on Friday. While BTC rises above $58,000, altcoins continue to rise.
As the market turns green again, Capo of Crypto, who is known for his bearish views and is frequently criticized by investors for his bearish comments, shared his expectations for the altcoin market.
Il Capo, who had been expecting a sharp rise in altcoins for a long time, was not successful in his prediction and altcoins experienced major declines.
However, despite the sharp decline, the analyst did not change the forecast. Examining the altcoin TOTAL chart, il Capo stated that he expects altcoins to make a strong jump from their current region.
“According to the altcoin TOTAL chart, altcoins failed to hold on to the green support zone and have now reached the next support zone (blue).
I still think this bearish move is a correction. We saw a similar and even more significant decline in the summer of 2021, and yet the market recovered and reached new highs.
With this,
I expect altcoins to make a strong bounce from this blue zone and reach the previously broken green zone. So, jumping from the blue zone and reaching the green support zone will be confirmation of the rise for me.
“As I said on
Finally, il Capo stated that he expects a rise in the largest altcoins Ethereum (ETH) and Solana (SOL).
*This is not investment advice.
