Trader Who Nailed 2022 Crypto Meltdown Says ‘Up Only’ Season in Sight – But There’s a Catch

An analyst who accurately called the 2022 crypto collapse believes that digital assets are close to entering a period of sustained rallies. Pseudonymous analyst Capo tells his 909,000 followers on the social media platform X that he sees the resurgence of bullish momentum in crypto. However, the analyst notes that his prediction will come to fruition only after a significant correction. “Potential last 5%-15% shakeout, before the ‘up only season’ begins. Just don’t get shaken out.” Capo also tells his 114,604 subscribers on his Telegram channel that he’s building a hedge position in line with his expected correction. Hedging is a risk-management strategy where traders open new positions designed to offset the potential losses of their existing investments. Looking at Solana ( SOL ), the analyst shares a chart suggesting that the large-cap crypto asset would plunge toward the $220 price level before sparking a rally to a new all-time high of $320. Source: Capo/Telegram At time of writing, SOL is trading for $250. As for Ethereum ( ETH ), the trader sees the leading altcoin retracing to its “main support” area before surging to a new all-time high close to $5,000. “This is how it would look. Same as before, but adding the potential last shakeout, which would test the $2,800-$3,000 support again.” Source: Capo/Telegram Based on the trader’s chart, he seems to predict that altseason will begin once Ethereum ignites its run to a new record high. At time of writing, ETH is worth $3,329. Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix 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 losses 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. Generated Image: Midjourney The post Trader Who Nailed 2022 Crypto Meltdown Says ‘Up Only’ Season in Sight – But There’s a Catch appeared first on The Daily Hodl .