It has been reported that there are some pretty optimistic predictions out for ETH, MATIC, and BNB. Check out the latest reports about this below.
ETH, MATIC and BNB
A trader who has been skeptical of crypto markets this year, despite the recent recovery, is becoming more certain about the potential for lower prices in multiple altcoins.
Known as Capo to his Telegram followers, he believes that Bitcoin’s drop below $25,000 last week signaled the start of a steep decline.
Capo predicted the fact that Binance Coin (BNB) will likely fall to around $40, a significant 83% decrease from its current value.
“BNB update:
Bad news coming in, and they never come alone. Expecting more bad news during this week, which should make price break the key support (range low, bottom dark zone in the chart). Below there, it could really be a free fall similar to FTT.
Same targets. I wouldn’t take profit on the first target, but I would take some profits on the main target if reached and leave part of the position open just in case.
Not financial advice.”
Regarding Ethereum (ETH), Capo predicts that the top alternative coin has surpassed a diagonal support level and is potentially heading towards significantly lower prices.
The trader’s primary price target is estimated to be within the range of $650 to $550, which translates to a decline of at least 62% from its current value.
“ETH:
Main target: $550-650.”
Regarding the Ethereum scaling solution Polygon (MATIC), Capo says he’s looking for price targets as low as $0.04, which is a 93% plunge from current prices.
“MATIC update:
Short doing very well. Same as with BNB, adding several targets.”
Not too long ago, we also revealed the fact that an important analyst who successfully rode the crypto market rally this year is outlining a scenario where Ethereum (ETH) could ascend to a level last witnessed in Q2 of 2022. Check out our previous article in order to learn more details about this.
