A well-liked crypto analyst is laying out his predictions for Solana (SOL) and a handful of different altcoins after this month’s digital asset market fallout.
The pseudonymous dealer Altcoin Psycho tells his 10,700 YouTube subscribers that if Bitcoin’s (BTC) worth stays secure, SOL may bounce as much as $17 earlier than breaking again down once more.
Total, he thinks Solana will most likely break beneath the $12 degree and crash all the best way to $3 given how a lot the community continues to be “in limbo.”
SOL is buying and selling at $13.07 at time of writing. The Seventeenth-ranked crypto asset by market cap is up 14.62% prior to now 24 hours.
Altcoin Psycho is much more bearish on the decentralized derivatives change Serum (SRM). The analyst thinks the undertaking’s overlap with the collapsed crypto change FTX will trigger it to crash and burn all the best way to $0.
SRM is buying and selling at $0.251363 at time of writing. The 212th-ranked crypto asset by market cap is up greater than 7% prior to now 24 hours.
Altcoin Psycho warns his subscribers to keep away from FTX’s collapsed native token, FTT.
“Don’t ever purchase this one except you wish to short-term commerce it. And the factor is, there may be not going to be any natural bid since you’re simply going to be buying and selling in opposition to another degenerates that wish to flip this factor actually shortly. So, yeah, don’t ever purchase this, for my part, for any kind of longer-term trades. It appears horrible. This may go to $0, although. Finally.”
The analyst can also be bearish on the decentralized change SushiSwap (SUSHI). He says he doesn’t “see any cause to purchase this token.” He thinks it is going to drop to $1 after which presumably go even decrease.
SUSHI is buying and selling at $1.21 at time of writing. The 128th-ranked crypto asset by market cap is up greater than 7% prior to now 24 hours.
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