Crypto Analyst Il Capo Turns Bearish Again Altcoins Face Further Declines

Il Capo of Crypto, a prominent figure in the cryptocurrency analysis community, recently shared his insights on the altcoin market. Known for his bearish stance in the past, il Capo had shifted to a bullish outlook following Bitcoin's significant price increase. However, recent market developments have led him to revert to a bearish perspective.

In his latest analysis, il Capo noted that many altcoins have reverted to their previous price ranges after a brief period of recovery, often referred to as a "dead cat bounce." He anticipates that these altcoins are likely to experience further declines, suggesting that the market has not yet reached its bottom.

Il Capo specifically addressed the performance of Solana (SOL), stating that its price has decreased by 20% from a key resistance level. He identified the main target price range for Solana as $60 to $80. This prediction is based on his observation that the overall capitulation process in the cryptocurrency market has not yet begun, indicating that there may be more downward pressure before a potential recovery.

Il Capo's analysis underscores the volatility and unpredictability of the altcoin market, where prices can fluctuate significantly in short periods. His bearish outlook suggests that investors should exercise caution and be prepared for potential further declines in altcoin prices. However, it is important to note that il Capo's predictions are based on his analysis and should not be considered as investment advice.