Crypto Capo, a crypto analyst, shared his expectations for various altcoin projects, while also touching on Ethereum, the second largest cryptocurrency. Here are the latest comments of the analyst, who gained a large following with his previous Bitcoin predictions…
Knowing the Bitcoin drop, Crypto Capo bought RSR
The analyst predicts a massive increase for an altcoin. Meanwhile, he is updating his view on Binance Coin (BNB) and Ethereum (ETH). The trader, known as Crypto Capo, told his 536,000 Twitter followers that he expects the ETH-based Reserve Rights (RSR), which facilitates the stability of the stablecoin Reserve Token (RSV), to initiate a 165 percent rally. Sharing the chart below, he said he “received some RSR after the break below the blue level.”
Also, the trader talks about Blockchain’s mainnet completion. The trader’s charts show that he believes the RSR will rise to $0.017 before falling to a one-year low. It also talks about the 99 percent complete mainnet of the token. RSR is moving to $0.0065 at the time of writing.
Analyst expects bullish on Binance’s altcoin project BNB
The analyst then turned his attention to BNB, the local asset of Binance, the world’s largest crypto exchange by volume. He said he expects BNB to rise 10.2 percent from its current price of $298.98 to $297.50 before falling to July levels. The analyst shared a chart and used the following statements:
Moving down from the opposite of wave A looks like a 3-wave move. So after deflection we will probably see a flat pattern. The peak of wave C will be 1:1 of point A. Target: $297.5.
Analysis ends with ETH
Crypto Capo concludes his analysis by turning his attention to ETH, saying that the leading smart contract platform has bounced off a significant level of support and should offer a good risk-reward ratio for investors. The analyst uses the following statements:
Bounces off key support with some regular bullish divergences. The first TP [take profit] is the neckline of H&S [head and shoulders model] and offers a good risk reward.
ETH is changing hands at $1,342, up 5.8 percent on the day. Meanwhile, Crypto Capo, as we reported as Kriptokoin.com, stood out with its various predictions. The analyst previously said that Bitcoin could return to its 22-month low of $16,000. The analyst had predicted the price declines correctly in the past periods. Capo predicted a drop to $50,000 in BTC last year. Earlier, in 2020, he correctly predicted the $3,500 level in the price of BTC.