A Crypto Strategist Warns of Potential Price Collapses for Bitcoin, Ethereum, and Solana
A popular crypto analyst known as Kaleo is cautioning that Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) may experience significant price drops due to the prevailing bearish market conditions. According to Kaleo, Bitcoin could potentially decline by over 20% from its current value. Looking at his chart, he predicts that Bitcoin might drop to the $20,800 level before initiating a surprise rally next month, pushing the price up to around $36,000.
As of now, Bitcoin is trading at $26,160, experiencing a 0.7% decline in the past 24 hours.
Kaleo also suggests that Ethereum is on the verge of a dip after repeatedly testing a vulnerable support level. He believes that ETH may break lower before rebounding and reaching $2,000+ again. Ethereum’s current trading price is $1,585, showing a 0.5% decrease in the last 24 hours.
Furthermore, Kaleo warns that Solana could potentially collapse by more than 27% if it fails to hold a crucial support level at $18. Looking at the chart, Solana is in danger of collapsing after being unable to turn a resistance trendline into support. At present, Solana is trading at $19.24, experiencing a 2% decrease in the past day.
Hot Take: Potential Price Collapses for Leading Cryptocurrencies
According to crypto strategist Kaleo, Bitcoin, Ethereum, and Solana face the risk of significant price drops in the near future. Bitcoin could potentially decline by over 20% before initiating a surprise rally next month. Ethereum may experience a dip before rebounding and surpassing the $2,000 mark again. Additionally, Solana may collapse by more than 27% if it fails to maintain its key support level. These predictions highlight the volatility and uncertainty currently surrounding the crypto market.
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