Altcoins Could Pump 10%-20% But Bounce May Be a Bull Trap, Capo Warns

A widely followed cryptocurrency analyst and trader is leaning bullish on the altcoin market but with a caveat.

A popular cryptocurrency analyst and trader is expressing optimism for the altcoin market, but he also warns of a potential bull trap.

The analyst, who is known as Capo, shared his看法 with his 929,300 followers on the social media platform X. He anticipates a double-digit percentage point increase in the value of altcoins.

“Expecting altcoins to pump 10%-20% from here.

However, I believe this bounce is a bull trap and a large drop is likely to follow.”

A bull trap occurs when an asset makes a move that appears to be a breakout, designed to attract retail traders. However, instead of continuing to rise, the asset quickly reverses and drops significantly.

According to Capo, altcoins may eventually bottom out and begin a bull run after the potential downtrend. Based on Capo’s chart, it appears that Bitcoin (BTC) could simultaneously drop to a support zone between $79,000 and $86,000 before rallying to over $112,000.

Bitcoin is trading at $97,460 at the time of writing.

The popular analyst also provides his outlook for Solana (SOL). Based on Capo’s chart, which was shared with his 118,822 Telegram followers, it appears he’s suggesting that Solana could fall to the support level of around $130 to $150 before skyrocketing to a new all-time high price of over $300.

Solana is trading at $175 at the time of writing.

Finally, Capo offers his analysis of the Ethereum (ETH)-based synthetic US dollar protocol Ethena (ENA). According to Capo, Ethena is poised to rally in several waves after bouncing off the main support level at around $0.40. Based on the pseudonymous analyst’s chart, it appears he’s suggesting that Ethena could rally and revisit the all-time high price of around $1.52.

Ethena is trading at $0.413 at the time of writing.

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