Legendary Analyst il Capo Shares Post-Decline Insights: Did He Sell His Altcoins?
Renowned analyst il Capo has made headlines yet again amidst the recent crypto market downturn. Despite previous bearish forecasts drawing criticism, he remains steadfast in his predictions for altcoins.
Following a significant correction last Friday, Bitcoin and other altcoins have shown signs of recovery. Bitcoin, for instance, has surpassed the $58,000 mark, while altcoins also exhibit upward momentum.
Known for his cautious stance, il Capo maintains his long-standing expectation of a robust rebound in altcoins. Despite recent declines, he reaffirms his outlook, pointing to the altcoin TOTAL chart, which indicates a shift to a new support zone after failing to hold the previous green support.
“This bearish movement appears corrective to me,” il Capo remarked. Drawing parallels to the summer of 2021, he noted a similar downturn followed by a strong market recovery to new highs. “I anticipate a vigorous bounce from this current blue zone, aiming to reclaim the earlier green support zone as confirmation of an upward trend.”
In conclusion, il Capo highlighted his optimistic view on Ethereum (ETH) and Solana (SOL), foreseeing potential growth in these leading altcoins.
*Disclaimer: This article does not constitute investment advice.
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