In a recent analysis of the cryptocurrency market, analyst Capo presented new predictions regarding major digital currencies.
Potential Decline for Solana
Capo notes that Solana is facing strong resistance in the price range of $170 to $200. Currently priced at $188, down 1.7% from the previous day, the analyst suggests it might drop to the $60-$80 range, indicating potential price corrections in the short term.
Prospects for Ethena
Capo has a more optimistic outlook for Ethena (ENA), a synthetic dollar protocol on Ethereum. Currently priced at $0.49 and having gained 6.2% over the last day, analysis suggests ENA could test the $0.19 level before climbing to $1.52, although short-term corrections are also possible.
Future of Bitcoin
In contrast to Ethena's outlook, Capo predicts a bleak future for Bitcoin. Previously skeptical about the bull run that pushed Bitcoin to $120,000, he now perceives it as a trap before a decline. He advises investors to carefully monitor support and resistance levels.
Capo's analysis emphasizes the necessity of careful market monitoring and warns of potential price changes for Solana and Bitcoin, while Ethena shows growth potential.
