Renowned analyst Il Capo of Crypto has shared his views on the altcoin market, highlighting recent price fluctuations and predicting future changes.
Analyst's Position on the Altcoin Market
The analyst, who has previously made bearish forecasts, recently shifted his stance after a price recovery for Bitcoin. However, following recent events, Il Capo has turned bearish again, claiming that many altcoins have reverted to their previous ranges after a recent short-term rally.
Overview of Solana Prices
In his statement, Il Capo noted that the price of Solana (SOL) is currently down 20% from the resistance zone. The main target price level is said to be between $60 and $80.
Market Status and Forecasts
He also stated that the capitulation process in the cryptocurrency market has not yet begun, despite the drop in Bitcoin and altcoin prices. He believes that upcoming events may lead to even lower prices.
Il Capo of Crypto's conclusions highlight the instability of the altcoin market and the need to monitor price changes to form a personal opinion on future actions.
