Pseudonymous analyst Capo tells his 647,500 Twitter followers that main meme token DOGE will doubtless lose almost 90% of its worth after flipping assist at $0.15 into resistance.
Capo shares a chart exhibiting that DOGE has no excessive timeframe assist till the coin reaches his goal at $0.01.
At time of writing, DOGE is buying and selling at $0.09, up almost 10% on the day.
The crypto strategist can be watching the value motion of blockchain scaling answer Polygon. In response to Capo, MATIC is probably going poised for a 68.75% collapse after respecting resistance at $1.24.
Capo shares a chart exhibiting that MATIC has no excessive timeframe assist till it plunges to $0.30.
At time of writing, MATIC is altering palms for $0.96, down over 5% within the final 24 hours.
One other coin on the dealer’s radar is Huobi Token (HT), the utility asset of crypto change Huobi. In response to Capo, HT’s chart seems bearish after breaking beneath its diagonal assist and changing horizontal assist at $10 into resistance.
“The HT chart seems ugly af.”
Trying on the analyst’s chart, he predicts that HT will nosedive to $0.88. At time of writing, HT is valued at $4.49, down almost 15% on the day.
As for the crypto markets on the whole, Capo says he expects a brutal capitulation section the place altcoins lose 40% to 50% of their worth on common. He additionally says that one other leg down for Bitcoin (BTC) is imminent.
“$14,000 [BTC] earlier than you suppose.”
Bitcoin is swapping palms for $16,762 at time of writing.
Disclaimer: Opinions expressed at The Day by day Hodl are usually not funding recommendation. Traders 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 personal danger, and any loses chances are you’ll incur are your accountability. The Day by day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Day by day Hodl an funding advisor. Please be aware that The Day by day Hodl participates in internet affiliate marketing.
Featured Picture: Shutterstock/Almujaddidi