Following a recent surge in cryptocurrency markets, analyst Capo has highlighted potential short-term corrections for Ethereum and Solana, stressing the importance of profit realization.
Ethereum Resistance Level Observations
According to the analyst’s assessment, Ethereum has reached a significant resistance level, rising from a $1,500 support level to the $2,000-$2,300 resistance range. A strong pullback is expected as this apex is approached.
"The $1,500 support was maintained, and now the price has reached the $2,000-$2,300 resistance range. I expect a local peak formation and then a strong downward move."
Promising Outlook for Solana
In addition to Ethereum, the smart contract platform Solana has also received positive evaluations. The analyst noted Solana's outperformance compared to Bitcoin and its continued upward potential.
"Solana seems ready to reach the $170-$200 main target range and is performing better than Bitcoin. I expect the Solana ecosystem to continue its ascent."
Profit Realization Recommendations and Market Influence
Capo’s mention of short-term gains between 30% and 100% in altcoins suggests the need for profit realization. Experts emphasize caution as market developments largely depend on investor behavior and global economic dynamics.
Particularly, statements regarding negotiations with China could influence market directions in the coming hours. While a pullback is expected for Ethereum, Solana is anticipated to maintain its strong performance. Investors should regularly monitor market analyses and adjust strategies accordingly.
Analysts warn investors of possible corrections following the rise of Ethereum and Solana. Financial players are advised to remain vigilant in the volatile cryptocurrency market.
