Master Analyst Warns: These 2 Altcoins Will Dive Further!

The cryptocurrency market is trying to overcome the selling wave. While the leading crypto Bitcoin falls below the 64 thousand dollar line, altcoins generally follow it. While some analysts see signs of recovery in this sales wave, some expect more. One well-known analyst in particular claims that some tokens will be shaken by harsh sales. The analyst believes that a red-hot altcoin project is on the verge of collapse. In addition, the analyst also points south for Bitcoin and Solana.

Altcoin Sherpa expects a lower base for WIF!

cryptokoin.com As you follow from , the market had difficulty maintaining its resistance. Following this, a wave of sales began for Bitcoin and altcoins. It remains unclear how long this wave will last. However, the analyst nicknamed Altcoin Sherpa claims that some tokens will see further declines. In this context, the analyst says that Solana-based chest coin dogwifhat (WIF) may not have found a market base yet. In this regard, the analyst makes the following statement:

WIF: Overall a decent field, I expect a bounce. But I don’t think this is the general basis. Overall, I expect a strong pullback and a lower base.

Source: Altcoin Sherpa

According to the chart, the analyst suggests that WIF may jump to around $2.50 before falling to the Fibonacci retracement level of $1.26. Meanwhile, WIF was trading at $1.83, losing 13.60% on a daily basis at the time of writing. However, the token is still up nearly 990% on a yearly basis.

“ Atcoins, including SOL, will fall further before the rally!”

The analyst also suggests that today’s crypto market is comparable to the crypto cycle of late 2020, when alts, including Solana (SOL), fell further before making major rallies. In this context, the analyst shares the following assessment:

I always quote this issue because I think it is extremely relevant today. I think we’re somewhere in the yellow boxes right now. Many altcoins likely have some further downside, and I expect BTC to reach a state of superior health before altcoins start to rally.

Source: Altcoin Sherpa

Meanwhile, Solana was trading at $131 at the time of writing, down 5.6% in the last 24 hours.

Bitcoin awaits a trend confirmation!

Finally, the analyst discusses the leading cryptocurrency Bitcoin (BTC). Altcoin Sherpa says that the price action on the daily chart is in the middle of a process range and is waiting for a trend confirmation. In this regard, the analyst said, “BTC: Keep your charts easy and relax. EQ (equilibrium price) is generally not a point where you want to actively trade. But let’s see what happens.” says.

Source: Altcoin Sherpa