High Crypto Analyst Points Bearish Warning, Says Avalanche and One Mid-Cap Altcoin Might Crash by Over 70% – The Day by day Hodl

A well-liked cryptocurrency analyst and dealer is expressing a bearish outlook on two under-the-radar altcoins.

Beginning with sensible contract platform Avalanche (AVAX), the pseudonymous analyst and dealer Capo tells his 695,000 Twitter followers that the altcoin may lose over 70% of its worth as he says the current assist degree of round $10 seems prone to crumble.

“AVAX replace:

reaching $10, which was the primary goal since Might. As you may see, ready is a key factor when you chart excessive timeframe.

Now, with present knowledge, the $10 assist seems to be unlikely to carry. New fundamental goal: $3 – $5.”

Avalanche is buying and selling at $10.70 at time of writing and is down greater than 92% from its all-time excessive, which it hit in November final 12 months.

Subsequent up is Cronos (CRO), the cryptocurrency designed to energy the Crypto.com fee, buying and selling and monetary companies platform.

In line with Capo, Cronos doesn’t look good from a technical perspective and will witness one other huge sell-off occasion if it takes out the assist space round $0.052.

“CRO replace:

fundamental goal reached once more, with a giant BUT:

The second it breaks [support], the second it nukes (even tougher). It wouldn’t shock me to see it dumping 70% or extra if this occurs.

It seems to be dangerous.”

Cronos is buying and selling at $0.055 at time of writing. A 70% devaluation for CRO may take the altcoin to a contemporary bear market low of $0.015.

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