Renowned cryptocurrency analyst Capo believes that altcoins could see a price increase of 10-20% from current levels. However, he emphasizes that this rise may not be sustainable, urging traders to remain vigilant. Capo points out the presence of misleading signals in the market and warns that the potential for a significant drop should not be overlooked.
Altcoin Gains Are Possible, But Caution Is Necessary
Capo assessed recent market movements and stated his expectation of a 10-20% rise in altcoins. He noted that this surge could represent a “bull trap” that might mislead investors.
According to the analyst, the recent sudden price spikes indicate an impending correction wave. He advises traders to conduct a thorough analysis before getting carried away by the positive market sentiment. Capo suggests that a sharp decline in prices following any increase is likely.
Technical Analysis of Bitcoin, Solana, and Ethena
In Capo’s technical analysis, Bitcoin’s support level is expected to be between $79,000 and $86,000. He predicts that Bitcoin 
$108,786 could recover from these levels, potentially rising above $112,000. At the time of writing, Bitcoin was trading around $97,460.
A similar scenario is anticipated for Solana 
$177, which may drop to the $130-$150 range before reaching new highs. Traders are cautioned to exercise caution at these levels.
For the Ethereum 
$2,541-based Ethena protocol, technical indicators point to critical support levels. The analyst suggests Ethena could find support at $0.40 and potentially rise to $1.52. Ethena was trading at approximately $0.413 at the time of the report.
Market technical indicators highlight the necessity for investors to manage their risks effectively. Capo stresses the importance of closely monitoring market dynamics and carefully assessing data.
