King cryptocurrency The unit fell to $107,600 at the time of writing and is pulling its daily bottom lower. Such a big drop was not expected after yesterday’s Fed statements, and with the loss of $ 107 thousand, overselling alarms may sound in altcoins. SOL Coin continues the day with a 7 percent loss already. So how does the cryptocurrency oracle evaluate the current situation?
Cryptocurrency Oracle Comment
The analyst nicknamed Roman Trading is called a crypto oracle because he made accurate predictions, especially in the last 2 quarters of this year. Even though, like every prophet, he was waiting for the day when he would be disgraced, his latest predictions largely reached their goal. Trump’s China move proved the oracle right, but whatever the reason, he was waiting for the big October crash.
The analyst, who appeared on stage again on October 30, said:
“Therefore, SPX When it eventually experiences some sort of pullback/correction, my guess is that BTC will drop significantly. Maybe around 20-30%.
BTC remains flat, but shares are up over 40%. The powerlessness is obvious.
“It’s coming, guys.”
If he is right, we may see days when altcoins lose over 50 percent again. But interest rates are falling and a 1-year agreement has been signed with China. We will see many analysts saying “I knew it” when we realize that the ongoing downward trend today is a trap.
Sherpa shared the chart above and mentioned that the range that has been maintained for months is safe.
“The price is at the low of the range and the 200-day EMA. I think this is not a good place to open a mega short position.”
Ethereum (ETH)
In altcoins to understand what is happening to ether There is no good look. ETH is stalling at $3,800. Moreover, falling below 4 thousand dollars for a long time is negative for risk appetite and ETF outflows are annoying. Hours later, Apple and Amazon earnings reports will arrive, which may support the stock market and therefore crypto.
Poppe is hopeful as always.
“There are two interesting factors here.
ETHmaintains a strong and important support level relative to horizontal price levels. It also remains above the 20-week moving average.
“I think this will continue and we will start to dive into green weeks as we enter November.”
