Crypto strategist warns Dogecoin and Polygon holders, says DOGE and MATIC could face drastic corrections.

Crypto strategist warns Dogecoin and Polygon holders, says DOGE and MATIC could face drastic corrections.

A cryptocurrency analyst who recently continues to build a following with accurate Bitcoin and altcoin calls is for owners of Dogecoin (DOGE) and Polygon (MATIC).

Pseudonymous analyst Capo tells his 647,500 Twitter followers that the leading meme token DOGE is likely to lose nearly 90% of its value after turning support at $0.15 into resistance.

Capo shares a chart showing that DOGE has no long-term support until the coin hits its target at $0.01.

“A DOG. »

At the time of writing, DOGE is trading at $0.09, up nearly 10% on the day.

The crypto strategist also monitors the price performance of blockchain scaling solution Polygon. According to Capo, MATIC is likely poised to collapse 68.75% after meeting resistance at $1.24.

Capo shares a chart showing that MATIC has no high-term support until it dips to $0.30.

“MATIK. »

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At the time of writing, MATIC is changing hands for $0.96, down 5% in the last 24 hours.

Another coin on the trader’s radar is Huobi Token (HT), the utility asset of crypto exchange Huobi. According to Capo, the HT chart looks bearish after breaking below its diagonal support and converting the horizontal support at $10 into resistance.

“HT’s chart is ugly. »

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Looking at the analyst’s chart, he predicts that HT will go down to $0.88. At the time of writing, HT is valued at $4.49, down 15% on the day.

When it comes to crypto markets in general, Capo said he expects a sharp capitulation phase where altcoins will lose 40% to 50% of their value on average. It also claims that another bitcoin (BTC) drop is imminent.

“$14,000 [BTC] sooner than you think. »

Bitcoin is trading for $16,762 at this writing.

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