Popular analyst Capo recently expressed on Telegram that he anticipates Binance Coin (BNB) to experience the most significant drop among altcoins.
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Experienced analyst Capo, widely followed by crypto investors, stated on Telegram that the largest short position is in Binance Coin (BNB).
The analyst declared BNB as the altcoin he anticipates will experience the most significant drop at this point and disclosed that BNB is the altcoin he sells the most.
Capo’s BNB analysis, using Elliot Wave theory, indicates a bearish trend in both the long and short term. He expects bad news for BNB to emerge soon, asserting that it’s only a matter of time before it happens. Capo emphasized that BNB broke out of an upside channel and entered a bearish trend, making it the altcoin he short sells the most.
The analyst, anticipating a significant drop in BNB, set the first target at $125. This represents a decrease of approximately 48% from BNB’s current level of $243.
Additionally, the analyst also foresees a drop for Solana (SOL), which is known as a competitor to Ethereum (ETH).
The analyst warns that if SOL fails to maintain the $30 support level, it might drop to $25. Currently, SOL is trading at $25.21.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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