Altcoin Bull Run Predicted, But Beware of Bull Trap

Cryptocurrency analyst and trader Capo, known for his pseudonymous handle, has shared a bullish outlook on the altcoin market, predicting a significant pump of 10% to 20% from current levels. However, he cautions that this bounce could be a bull trap, setting the stage for a substantial drop to follow.

Capo's analysis suggests that altcoins could reach a bottom and initiate a bull run once the potential downtrend has concluded. His chart indicates that Bitcoin (BTC) could fall to a support zone between $79,000 and $86,000 before rallying to more than $112,000. At the time of writing, Bitcoin is trading at $97,460.

Capo also offers insights into Solana (SOL), suggesting it could fall to a support level around $130 to $150 before surging to a new all-time high price of over $300. Solana is currently trading at $175.

Additionally, Capo discusses Ethena (ENA), an Ethereum-based synthetic US dollar protocol. He predicts that Ethena could rally in a series of waves after bouncing off the main support level at around $0.40, potentially revisiting its all-time high price of around $1.52. Ethena is currently trading at $0.413.

While Capo's analysis provides a bullish outlook for altcoins, investors should remain cautious and monitor the market closely, as the potential for a bull trap and subsequent drop exists. As always, it is essential to conduct thorough due diligence before making any high-risk investments in the cryptocurrency market.