Crypto Trader Predicts Over 60% Crash For Ethereum-Based Altcoin, Reveals Outlook For Bitcoin And Cardano CryptoBlog

A widely followed crypto trader expresses bearish sentiment towards an Ethereum-based altcoin while revealing his predictions for Bitcoin (BTC) and Cardano (ADA).

The pseudonymous crypto analyst known as Altcoin Sherpa recount its 182,400 Twitter followers that the native token of Lido DAO (LDO), the Decentralized Autonomous Organization (DAO) behind the Lido Ethereum staking protocol, could drop around 64% from its current price.

“LDO: Wouldn’t this thing last until more destruction, maybe $0.75? There will be twists and turns along the way, however.

Source: Altcoin Sherpa/Twitter

LDO is trading at $2.07 at the time of writing.

Altcoin Sherpa goes on to say that the $19,000 price level is a support zone for Bitcoin that may provide the flagship digital asset with a basis to launch a “stronger bounce”.

However, the analyst said that if Bitcoin were to fall to $19,000 from its current level, altcoins could drop around 10%.

“BTC: I still think $19,000 (or thereabouts) should provide a stronger bounce. Guessing altcoins take another 10% haircut if that happens.

Source: Altcoin Sherpa/Twitter

Bitcoin is changing hands for $20,260 at the time of writing.

Altcoin Sherpa concludes its analysis with the Cardano (ADA) smart contract platform. According to the crypto trader, Cardano may fall further before bouncing higher.

“ADA: I haven’t looked at this graph for a while but… is it possible that these graphs are forming some kind of accumulation? Lots of trading volume in this area right now, maybe this is the mid-term bottom (maybe a peak at $0.30 mid/low, then a rise after that)? »

Source: Altcoin Sherpa/Twitter

Cardano is moving to $0.448 at the time of writing, down 2.4% on the day.

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