A crypto analyst who continues to construct a following with correct Bitcoin and altcoin calls as of late is addressing holders of Dogecoin (DOGE) and Polygon (MATIC).
Pseudonymous analyst Capo tells his 647,500 Twitter followers that main meme token DOGE will possible 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 also be watching the worth 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 alternate Huobi. In response to Capo, HT’s chart appears bearish after breaking under its diagonal assist and changing horizontal assist at $10 into resistance.
“The HT chart appears ugly af.”
Wanting 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 typically, 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] before you suppose.”
Bitcoin is swapping palms for $16,762 at time of writing.
Do not Miss a Beat – Subscribe to get crypto e-mail alerts delivered on to your inbox
Examine Price Action
Observe us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Day by day Hodl will not be 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 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 word that The Day by day Hodl participates in online marketing.
Featured Picture: Shutterstock/Almujaddidi