Solana's Bull Trap: Crypto Capo Warns of March Drop Before Rally

Crypto analyst Crypto Capo has warned that Ethereum competitor Solana (SOL) may be setting up a bull trap for investors. In a recent strategy session on Telegram, Capo suggested that SOL's recent price action resembles a pattern that could deceive traders.

Capo's chart analysis indicates that SOL could drop to around $140 in March before embarking on a significant rally to a new all-time high. The analyst also predicts that many altcoins could follow a similar pattern, potentially dropping another 20-40% before recovering.

Capo advises investors to stay calm during these sudden price movements and consider adding to their positions, as these could be accumulation zones. He also expects the top two cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), to follow a similar trajectory.

Capo's charts suggest that BTC could dip to around $86,000 in February before surging to a new record price. Meanwhile, ETH is expected to drop to around $1,800-$2,100 before rallying in March to surpass the $4,800 price tag.

At the time of writing, SOL is trading at $190.92, with a marginal decrease over the last 24 hours. BTC and ETH are valued at $95,797 and $2,644, respectively.