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Capo of Crypto, who is known for his bearish views and is one of the most influential analysts in the cryptocurrency market, mentioned Avalanche ($AVAX) and Polygon (MATIC) in his statement.
The analyst claimed that $AVAX has reached the main resistance point after its impressive 18% rise today. According to the analyst, the main resistance point is between $50 and $55, and at the time of writing, $AVAX price is trading at $56.49.
The analyst claimed that he expected a big decline from this stage and that the $AVAX price could drop to $24.
However, the analyst, who has long been known for his bearish views, is now being urged to admit that he was wrong as BTC rose to its all-time high price level, but the analyst seems to continue his bearish views. In his recent statement, il Capo said that he was entirely in cash and did not have a short or long position on any cryptocurrency.
Similarly, speaking about the MATIC price, il Capo said that MATIC has reached its main resistance at $1.25. At the time of writing, MATIC price is trading at $1.17, following today's 4% decline.
According to the analyst, the next stop for the MATIC price may be the $1.01 level in the future.
*This is not investment advice.
news.bitcoin.com
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