{"id":32025,"date":"2022-10-14T20:53:00","date_gmt":"2022-10-14T20:53:00","guid":{"rendered":"https:\/\/egrowonline.com\/?p=32025"},"modified":"2022-10-14T20:53:00","modified_gmt":"2022-10-14T20:53:00","slug":"trader-who-called-2022-crypto-collapse-predicts-248-rally-for-solana-based-altcoin-heres-his-target","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=32025","title":{"rendered":"Trader Who Called 2022 Crypto Collapse Predicts 248% Rally for Solana-Based Altcoin \u2013 Here\u2019s His Target"},"content":{"rendered":"


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A closely followed trader says that he\u2019s investing in one Solana-based (SOL<\/a>) move-to-earn project with the expectation that the token will spark a series of massive rallies.<\/p>\n

The pseudonymous crypto trader known as Capo tells his 551,000 Twitter followers that he thinks the crypto markets will pick a direction early next month once the Federal Reserve confirms another interest rate hike.<\/p>\n

According to Capo, Bitcoin (BTC<\/a>) will lead a crypto market correction after the Fed announces either a 75 or 100 basis points rise in rates.<\/p>\n

\u201cBTC potential roadmap.\u201d<\/em><\/p>\n

\"Image\"
Source: Capo\/Twitter<\/a><\/figcaption><\/figure>\n

Capo says that BTC is currently above the $19,000 mark because yesterday\u2019s dip lower was more of a deviation than a direct price impulse downward. He says<\/a> a rally to $21,000 or more is still likely before a dramatic correction to the $14,000 level.<\/p>\n

\u201cRight now price is back above $19,000 so the move below this level is considered as a deviation (bullish).<\/em><\/p>\n

Demand coming in confirms this. There\u2019s fuel to keep going up.<\/em><\/p>\n

Short squeeze is not over and $21,000 is very likely. Then I will turn full bearish again and wait for new lows.\u201d<\/em><\/p>\n

While $21,000 is the trader\u2019s base case, he\u2019s still staying prepared<\/a> for a potential break through of that resistance level to other targets in the mid $20,000s.<\/p>\n

\u201cFrom what I see now, $21,000 should act as resistance. It could go to $21,100, $21,200\u2026 as long as it doesn\u2019t break that level on a HTF [higher time frame] close.<\/em><\/p>\n

Example on chart.\u201d<\/em><\/p>\n

\"Image\"
Source: Capo\/Twitter<\/figcaption><\/figure>\n

Looking at the altcoin market, Capo says he just grabbed a bag of STEPN (GMT<\/a>), the popular move-to-earn project built on the Solana blockchain.<\/p>\n

According to the trader, GMT is gearing up for a hefty 42% rally from its current price of $0.58 up to the $0.84 range.<\/p>\n

Based on Capo\u2019s chart, he also foresees a subsequent 60% dip from the $0.84 level all the way down to $0.33 before igniting a powerful 248% bull run to the $1.15 area.<\/p>\n

\u201cJust bought a bag of GMT.\u201d<\/em><\/p>\n

\"Image\"
Source: Capo\/Twitter<\/figcaption><\/figure>\n

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n

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A closely followed trader says that he\u2019s investing in one Solana-based (SOL) move-to-earn project with the expectation that the token will spark a series of massive rallies. The pseudonymous crypto trader known as Capo tells his 551,000 Twitter followers that he thinks the crypto markets will pick a direction early next month once the Federal […]<\/p>\n","protected":false},"author":1,"featured_media":32026,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[42],"tags":[349,3322,819,62,164,470,213,8160,182,193],"class_list":["post-32025","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","tag-altcoin","tag-called","tag-collapse","tag-crypto","tag-heres","tag-predicts","tag-rally","tag-solanabased","tag-target","tag-trader"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/10\/trader-called-rally-based.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/32025","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32025"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/32025\/revisions"}],"predecessor-version":[{"id":32027,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/32025\/revisions\/32027"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/32026"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32025"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32025"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32025"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}