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Analysts who called for the collapse of Bitcoin (BTC) this year predict further revisions to Cardano (ADA) and Midcap Altcoin Kronos (CRO).
Pseudonym analyst Capo told 438,400 Twitter followers that Cardano’s support for about $ 0.44 is likely to fall after six touches in less than two months.
“The sixth touch of support. It’s getting weaker and weaker. Next support: $ 0.29 to $ 0.31.”
At the time of writing Cardano Has changed hands at $ 0.43, below Capo’s support level and down nearly 6% in the last 24 hours.
Another altcoin on the list of traders is Crypto, a cryptocurrency that enhances Crypto.com’s payment, trading and financial services platforms. According to Capo, the CRO has collapsed from horizontal and diagonal support levels and appears ready to start the next leg.
“CRO Update: $ 0.055- $ 0.065.”
With a current price of $ 0.11, the move to Capo’s target suggests a potential downside of nearly 50% for Cronus.
Cryptographic strategists have also issued general warnings to crypto market participants, arguing that fresh inflation data could push digital assets to new 2022 lows.
“All charts show weaknesses. New lows are just a matter of time. CPI [consumer price index] this week. “
New CPI data schedule It will be released on June 13th. Traders are closely monitoring the CPI, as high inflation may indicate that the Federal Reserve may introduce new interest rate hikes.
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Featured image: Shutterstock / nemovljatko
