Avalanche (AVAX) And Cronos (CRO) Could Lose Over 70% Of Their Value

Key Points:

• Avalanche (AVAX), a smart contract platform, might lose almost 70% of its value, according to the analyst and trader Capo.
• Cronos (CRO) might have another large sell-off event if it breaches the support region at $0.052.

A well-known cryptocurrency analyst and trader has expressed a pessimistic stance on two obscure cryptocurrencies which are Avalanche (AVAX) and Cronos (CRO).

Avalanche (AVAX), a smart contract platform, might lose almost 70% of its value, according to the analyst and trader Capo, who claims that the current support level of roughly $10 is likely to collapse.

Reaching $10, which was the main target since May. As you can see, waiting is a key element if you chart high timeframe. Now, with current data, the $10 support looks unlikely to hold. New main target: $3-5

Avalanche is trading at $10.70 at the time of writing and is down much more than 92% from its all-time high, which it specifically hit in November last year in a subtle way.

A week ago, Coincu reported that AvalancheGo, a blockchain software implementation written in the Go programming language, has been updated by Banff 5, which brings native communications to all Avalanche Subnets.

Secondly, Capo claims that the cryptocurrency Cronos (CRO), which was created to subtly fuel the Crypto.com payment, trading, and financial services network, does not generally appear to be doing well from a technical standpoint and might have another large sell-off event if it breaches the support region at $0.052.

Main target reached again, with a big BUT: The moment it breaks the ATL, the moment it nukes (even harder). It wouldn’t surprise me to see it dumping 70% or more if this happens. It looks bad.

At the time of this writing, the top-29 crypto Cronos is trading at $0.055. However, CRO’s price might drop by 70%, reaching a new bear market low of $0.015, according to Coincu data.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Thana

Coincu News