Most cryptocurrencies fell in price as global financial markets fell.Minutes from the Federal Reserve’s March meeting, released on Wednesday, suggested that half-point interest rate hikes could be on the way at future sessions.
Investors continued to position themselves for aggressive monetary policy tightening, which often leads to more volatility, sending markets lower.
As the digital asset market takes a pause, a well-known crypto expert predicts deep pullbacks for Waves (WAVES), ApeCoin (APE), and one more altcoin.
Waves(WAVES)
Waves, the bespoke token and decentralised application creation platform, is correcting all the way down to $20, according to Pseudonymous analyst Altcoin Sherpa, who has 171,500 Twitter followers.
At the time of writing, Waves(WAVES) is trading at $28.33 down by 5.1% in the last 24 hours. The token has traded in the range of $27.51 – $31.12.
Apecoin(APE)
Next up is APE, an altcoin created for the Bored Ape Yacht Club non-fungible token (NFT) community. APE could fall back to $9.50, according to Altcoin Sherpa, which is around 17.5 percent below its current price.
He says this one is much out of his price range; he’d be ready to pay a lot less for it. Approximately $8.00. However, there should be a bounce around $9.50ish, which would be a fantastic scalp entry, he added.
At the time of writing, Apecoin(APE) is trading at $10.98
Down by 7.3% in the last 24 hours. The token has traded in the range of $10.58 – $12.02
Zilliqa (ZIL)
Zilliqa (ZIL), a smart contract-enabled blockchain for enterprise solutions, is also on the trader’s radar. After a stunning 375 percent surge that saw it spike from $0.05 to $0.218 in only a few days, he believes ZIL might correct further to $0.11.
He says, If you think BTC is bearish, it’s better to short these types of coins rather than BTC.The reason for this is that these have already reached their blowoff tops and will most likely drop if BTC pumps and dump even harder if BTC dumps. $0.11 as a target
At the time of writing, Zilliqa (ZIL) is trading at $0.126 down by 3.4% in the last 24 hours. The token has traded in the range of $0.1257 – $1416.
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Source: https://coinpedia.org/altcoin/waves-ape-zil-price-to-plunge-heavily-by-weekend-here-are-levels-to-enter-short-position/