Capo is well known for predicting the price crash that crypto markets have seen this year. In recent months, the crypto analyst has made predictions about the upcoming price movements in the markets of different cryptos. This month, he was particularly interested in the Solana (SOL) and FTX Token (FTT) cryptos. Here’s what Capo predicted for the latter.
Capo predicts a drop below $20 for SOL
At the start of the month, SOL traders had become more confident regarding the future of the digital asset’s price. Indeed, the announcement of Solana’s collaboration with Google made them more optimistic. But, Capo chose this period to to predict a drop between $19 and $17 for crypto.
He added: ” Most people are unprepared for what is to come and it shows. “. Obviously, traders disagreed with the crypto analyst. However, the price of the tenth largest cryptocurrency started falling a few days later.
This November 8 on Twitter, Capo declared : “SOL fell 25% following this tweet. People were euphoric for the partnership with Google“. “Now it re-tests the yellow ascending channel as resistance. A price below $20 is only a matter of time“, he added.
A strong correction for FTX Token (FTT)
Over the weekend, the FTX Token (FTT) rose from $22 to $25. This means that it recorded an increase of 15%. Despite everything, crypto strategist Capo also expects a decline in the price of this digital asset.
Regarding this, the crypto analyst said: “Today’s FTT pump is one of the biggest bull traps I’ve ever seen“. It predicts a decrease under $10 for crypto.
For Capo, the FTT saw no significant demand until it fell to $8.50. The strategist thus predicts a decline of more than 60% for the crypto, compared to current prices. Hours after Capo’s tweet, FTT effectively went under, due to a severe cash crunch. The FTX crypto exchange, of which it is thetokennative, will be acquired by its competitor Binance.
Crypto analyst Capo is not predicting a downside just for Solana (SOL) and FTX Token (FTT). Indeed, he thinks that bitcoin (BTC) will also experience a sharp and sharp drop. But before the latter, he predicts a rise to over $21,000 for the flagship crypto.
Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of daily and weekly so you don’t miss any of the essential Tremplin.io!
