Once accurately predicted the crash in 2022! Analyst: Rebound is coming soon, bullish on 'these 2 types of coins'.

Market - 2024.06.20 - By Sean
Analyst Capo, who accurately predicted the cryptocurrency crash in 2022, has spoken again, pointing out that the market is about to rebound and specifically mentioning two cryptocurrencies, Solana ($SOL) and Render ($RNDR).

Analyst: Rebound is coming soon

With the volatile cryptocurrency market, many people are wondering what the next step for Bitcoin ($BTC) and Altcoins will be.

And recently, the mysterious analyst Capo, who has 90,280 subscribers in the Telegram channel, has spoken again. He successfully predicted the cryptocurrency market crash in 2022, and now he believes that the market is about to rebound, and he mentioned two cryptocurrencies that will become the stars of the next big rise.

Bullish on these two coins skyrocketing

Capo shared that in this bull market, in addition to Bitcoin (BTC) and Ethereum (ETH), he also likes two other coins: Solana (SOL) and Render (RNDR).

Capo has good prospects for Solana ($SOL) and Render ($RNDR) for good reasons.

First of all, Solana ($SOL) is considered a strong competitor to Ethereum, with its high performance and low transaction cost, which has led to rapid expansion of its ecosystem over the past year, attracting a large number of developers and investors.

Render ($RNDR) is a project based on blockchain technology for rendering with graphics processing units (GPUs). It allows users to lease their idle GPU resources to projects that require high-performance computing power, providing unique practical application potential and competitive advantages in the cryptocurrency market.

At the time of writing, the trading price of Solana ($SOL) is $134, a decrease of nearly 3.3% in the past 24 hours; the trading price of Render ($RNDR) is $7.72, a decrease of 0.25% in the past 24 hours.

Follow the 'others' chart

Despite the recent poor performance of both coins, Capo believes that these two coins are expected to enter a rising trend because Capo is following the 'others' chart.

The "others" chart excludes the top ten digital assets and stablecoins, yet Capo sees signs of market rebound in it. As of the time of writing, the valuation of "others" is 2192.5 billion US dollars, with a decrease of over 7% in the past 24 hours. Capo points out that the assets of "others" are finding support in the green zone at the moment, and if this range holds, then we should see a rebound soon.

He expects that the assets of "others" will move to the red zone (T1 and T2), and given that almost all "others" assets are currently in oversold condition, this is likely to be the precursor of a rebound.

In addition, Capo believes that the ETH/BTC trading pair is about to break through, meaning that Ethereum's gains will soon catch up with or even surpass Bitcoin.

As of writing, the trading price of ETH/BTC is 0.05450 $BTC (3,544 US dollars), and Capo predicts that it will soon break through 0.065 $BTC (4,196 US dollars). Capo has observed changes in market sentiment and fund flows, and believes that the current pessimism and excessive selling pressure have created favorable conditions for a rebound.

According to his analysis, when the market sentiment is extremely negative, it usually means that selling pressure is nearing its end, buyers are starting to enter the market, and a rebound pump can be seen soon.