Il Capo of Crypto, one of the well-known analysts of the cryptocurrency world, talked about the altcoin market in his statement.
The analyst, who was known for his bearish statements for a long time in the past, but made bullish statements after the increase in the Bitcoin price reached a level that could no longer be denied, turned bearish again after the latest developments.
In his latest statement, il Capo claimed that many altcoins have already regressed to their former ranges following their recent “dead cat bounce” movement and that much lower prices are likely.
Sharing an update specifically on Solana, the crypto analyst stated that the SOL price is currently down 20% from the resistance zone. In addition, the analyst said that the main target price level for Solana is $60 to $80.
The analyst claimed that the capitulation process in the cryptocurrency market had not yet begun, when Bitcoin and altcoin prices were falling before recovering.
*This is not investment advice.
