Wednesday, November 23, 2022
HomeAltcoinAnalyst Predicts Aftermath for Solana, Serum, Sushi and FTT Following Downfall of...

Analyst Predicts Aftermath for Solana, Serum, Sushi and FTT Following Downfall of FTX and Sam Bankman-Fried


A well-liked crypto analyst is laying out his predictions for Solana (SOL) and a handful of different altcoins after this month’s digital asset market fallout.

The pseudonymous dealer Altcoin Psycho tells his 10,700 YouTube subscribers that if Bitcoin’s (BTC) value stays secure, SOL might bounce as much as $17 earlier than breaking again down once more.

Total, he thinks Solana will in all probability break under the $12 stage and crash all the way in which to $3 given how a lot the community remains to be “in limbo.”

SOL is buying and selling at $13.07 at time of writing. The Seventeenth-ranked crypto asset by market cap is up 14.62% up to now 24 hours.

Altcoin Psycho is much more bearish on the decentralized derivatives alternate Serum (SRM). The analyst thinks the challenge’s overlap with the collapsed crypto alternate FTX will trigger it to crash and burn all the way in which to $0.

SRM is buying and selling at $0.251363 at time of writing. The 212th-ranked crypto asset by market cap is up greater than 7% up to now 24 hours.

Altcoin Psycho warns his subscribers to keep away from FTX’s collapsed native token, FTT.

“Don’t ever purchase this one except you need to short-term commerce it. And the factor is, there may be not going to be any natural bid since you’re simply going to be buying and selling in opposition to another degenerates that need to flip this factor actually shortly. So, yeah, don’t ever purchase this, for my part, for any form of longer-term trades. It appears horrible. This can go to $0, although. Finally.” 

The analyst can also be bearish on the decentralized alternate SushiSwap (SUSHI). He says he doesn’t “see any motive to purchase this token.” He thinks it’ll drop to $1 after which probably go even decrease.

SUSHI is buying and selling at $1.21 at time of writing. The 128th-ranked crypto asset by market cap is up greater than 7% up to now 24 hours.

I

Do not Miss a Beat – Subscribe to get crypto e-mail alerts delivered on to your inbox

Verify Value Motion

Comply with us on Twitter, Fb and Telegram

Surf The Day by day Hodl Combine

Verify Newest Information Headlines

&nbsp

Disclaimer: Opinions expressed at The Day by day Hodl aren’t funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your individual threat, and any loses you might incur are your duty. The Day by day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Day by day Hodl an funding advisor. Please notice that The Day by day Hodl participates in affiliate internet marketing.

Featured Picture: Shutterstock/studiostoks



RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments