An analyst who accurately called the 2022 crypto collapse believes that one Ethereum (ETH) rival is on the verge of a deep correction.

Pseudonymous analyst Capo tells his 129,129 subscribers on his Telegram channel that Solana (SOL) is facing resistance at the $200 level and may decline more than 68% from its current value.

“SOL update: retesting the same old $170-$200 resistance zone. Main target remains $60-$80.”

Solana is trading for $188 at time of writing, down 1.7% in the last 24 hours.

Next up, the analyst says that he is remaining bullish on Ethena (ENA), a synthetic dollar protocol built on Ethereum.

However, the analyst says ENA may have a sudden correction before continuing higher.

“One of the few altcoins I didn’t sell, as you can see on the quoted post. It has now reached the mid range at $0.50-$0.55. If the bearish scenario plays out, we could still see a last leg down towards the range low at $0.20 (all-time low). If that happens, I’ll be buying more. Same plan as before.”

Looking at his chart, the analyst suggests that Ethena may hit $1.52 after retesting the $0.19 level.

Ethena is trading for $0.49 at time of writing, up 6.2% in the last 24 hours.

Lastly, the analyst says he still believes Bitcoin (BTC) will soon enter a significant downtrend.

“BTC gives the first bearish confirmation below $115,000.”

Bitcoin is trading for $119,161 at time of writing, up marginally in the last 24 hours.

 

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 losses 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.

Generated Image: Midjourney

The post Analyst Unveils Massive Downside Targets for Top Ethereum Rival Solana, Updates Outlook on Bitcoin and Ethena appeared first on The Daily Hodl.

An analyst who accurately called the 2022 crypto collapse believes that one Ethereum (ETH) rival is on the verge of a deep correction.

Pseudonymous analyst Capo tells his 129,129 subscribers on his Telegram channel that Solana (SOL) is facing resistance at the $200 level and may decline more than 68% from its current value.

“SOL update: retesting the same old $170-$200 resistance zone. Main target remains $60-$80.”

Solana is trading for $188 at time of writing, down 1.7% in the last 24 hours.

Next up, the analyst says that he is remaining bullish on Ethena (ENA), a synthetic dollar protocol built on Ethereum.

However, the analyst says ENA may have a sudden correction before continuing higher.

“One of the few altcoins I didn’t sell, as you can see on the quoted post. It has now reached the mid range at $0.50-$0.55. If the bearish scenario plays out, we could still see a last leg down towards the range low at $0.20 (all-time low). If that happens, I’ll be buying more. Same plan as before.”

Looking at his chart, the analyst suggests that Ethena may hit $1.52 after retesting the $0.19 level.

Ethena is trading for $0.49 at time of writing, up 6.2% in the last 24 hours.

Lastly, the analyst says he still believes Bitcoin (BTC) will soon enter a significant downtrend.

“BTC gives the first bearish confirmation below $115,000.”

Bitcoin is trading for $119,161 at time of writing, up marginally in the last 24 hours.

 

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 losses 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.

Generated Image: Midjourney

The post Analyst Unveils Massive Downside Targets for Top Ethereum Rival Solana, Updates Outlook on Bitcoin and Ethena appeared first on The Daily Hodl.