A popular cryptocurrency analyst and trader is expressing a bearish outlook on two under-the-radar altcoins.
Starting with smart contract platform Avalanche (AVAX), the pseudonymous analyst and trader Capo tells his 695,000 Twitter followers that the altcoin could lose over 70% of its value as he says the present support level of around $10 appears likely to crumble.
“AVAX update:
reaching $10, which was the main target since May. As you can see, waiting is a key element if you chart high timeframe.
Now, with current data, the $10 support looks unlikely to hold. New main target: $3 – $5.”
Source: Capo/Twitter
Avalanche is trading at $10.70 at time of writing and is down more than 92% from its all-time high, which it hit in November last year.
Next up is Cronos (CRO), the cryptocurrency designed to power the Crypto.com payment, trading and financial services platform.
According to Capo, Cronos does not look good from a technical perspective and could witness another massive sell-o
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