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Cryptocurrency analyst il Capo of Crypto shared an update on the price of Bitcoin ($BTC), Ethereum ($ETH) and Avalanche ($AVAX), for which he had previously published his analyses.
According to the analyst, Ethereum price has reached the previously targeted region between $2,900 and $3,000. $ETH is trading at $2,970 at the time of writing.
In his statement, il Capo said that $ETH is currently at a major resistance point. However, the analyst added that he expects a strong rejection from this level for $ETH soon.
However, talking about Bitcoin, the analyst reported that $BTC reached a very important peak together with $ETH. At the time of writing this article, $BTC price is trading at $52,000.
According to the analyst, altcoins also appear to be overextended and funding rates are also too high. According to the analyst, a 10-20% decline may be observed in the cryptocurrency market in the near future and $BTC may drop to $ 45,000.
On the other hand, the analyst, who gave his thoughts about $AVAX, stated that he expected a decrease from the current price level of around $ 39 to $ 34 in the first place, and then a sudden movement to the $ 52 region. However, il Capo thinks $AVAX will face major resistance between $50-$55 and the subsequent decline could drop the $AVAX price to around $23.
*This is not investment advice.
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